Strands Acquires Social Money Site NetworthIQ
Corvallis, (Or), May 15th, 2008.-
Today we are happy to announce the acquisition of NetworthIQ, a social personal finance Web site that lets people track, share, and compare their net worth. This news follows the acquisition of money management solution Expensr and the private beta launch of moneyStrands, Strands’ personal finance application.
NetworthIQ was founded by Ryan Williams and his partners in 2005 to enable anyone to easily track their financial progress from a high level, and anonymously share it with the world if they choose, in order to benefit from community’s financial insights and experiences.
NetworthIQ has been a pioneer in the personal finance space, allowing users to unlock the value of the community as a resource for information, inspiration, and advice. More than 15,000 users have already chosen to post, and in many instances share, their net worth with the community. Part of Strands’ vision is to use social recommendation to help people discover new content, services and products based on their tastes, and this acquisition will help us to do that in the personal finance space with moneyStrands.
Currently in private beta testing, moneyStrands is Strands’ social money management solution, which allows users to aggregate their online financial information in one place, providing them with an instant snapshot of all their finances. With moneyStrands, users can anonymously compare themselves to others with similar traits, such as demographics.