Date
29 March 2017
Google is seeking to invest in a chat service that targets people from the financial sector. Photo: Bloomberg
Google is seeking to invest in a chat service that targets people from the financial sector. Photo: Bloomberg

Google in talks to invest in messaging startup Symphony

Google is in talks with Symphony Communication Services for potential investment in the messaging startup, Reuters reported, citing a source familiar with the matter.

The talks are ongoing and no terms have been finalized yet, according to the report.

Symphony’s chat service allows financial firms, corporate customers and individuals to put all of their digital communications on one centralized platform.

The service is backed by Goldman Sachs and other big Wall Street banks.

The Wall Street Journal earlier reported Monday that Google was investing in a new round of funding for Symphony that values the firm at about US$650 million. 

Goldman led a group of 14 banks including Bank of America, Citigroup and JPMorgan Chase in making a US$66 million investment in Symphony last October, when Symphony was set up. 

Symphony’s service has been tipped as a rival to the chat function on the Bloomberg terminal which many market participants use to exchange information and make deals.

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RC

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