Alibaba fund invests in financial social network StockViva

January 29, 2019 12:49
StockViva, a financial social platform that features instant trading ideas from fund managers, analysts and investors, claims to have amassed hundreds of thousands of users. Photo: StockViva

Financial social platform StockViva has completed a Series A funding round that saw capital being raised from the Alibaba Entrepreneurs Fund. 

The Alibaba fund invested in the Hong Kong-based startup, though the amount is not known, according to Chinese tech media site 36kr.

Co-founded by Samuel Wan and Law Chi-ho in 2016, StockViva runs a financial social platform that features instant trading ideas from fund managers, analysts, and traders, allowing users to take reference and copy the trading strategies.

StockViva invites financial professionals onboard to share their analyses, recommendation, and security investment-related information; users can interact with the professionals and send virtual ‘gifts’, which can be purchased with real money, to them as rewards.

“Most of the retail investors don’t have a well-established stock investment strategy, or they lack the time to keep track of the stock market,” notes co-founder and chairman Samuel Wan.

"So we created this stock investment social community for individual investors to communicate, and we offer the strategies and advice from famous stock analysts and fund managers as an important reference for them.”

Focusing on the mainland China and Hong Kong market, the platform has amassed hundreds of thousands of users, the firm says, also claiming the involvement of hundreds of famed stock analysts, fund managers, traders at investment banks, and stock commentators.

According to Wan, the platform serves as a channel for investment professionals to get access to a large pool of retail investors and build their influence.

Among various initiatives, StockViva has partnered with mainstream and online media in the region, such as Sina Weibo, offering investment professionals a channel to attract mainland Chinese who are interested in investing Hong Kong stocks.

Wan told 36kr that the firm plans to launch a paid Q&A section helping users to communicate and get advice from investment professionals, monetizing the platform with paid information products, content collaboration with media, as well as selling virtual gifts to users.

The Alibaba Entrepreneurs Fund, a not-for-profit initiative from Chinese tech giant Alibaba Group to help young entrepreneurs, had established a HK$1 billion fund to invest in young companies and entrepreneurs in Hong Kong.

The fund's investment portfolio includes cooking and lifestyle media entity DayDayCook, logistics unicorn GoGoVan and mobile lending platform WeLab, among others.

This article appeared in the Hong Kong Economic Journal on Jan 28

Translation by Ben Ng with additional reporting

[Chinese version 中文版]

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Hong Kong Economic Journal