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Strands Rings Up Another One: NetworthIQ
Last month we interviewed Gabriel Aldamiz-echevarria from Strands about their business and their acquisition of Expensr. Today Strands is announcing another acquisition — this time it’s NetworthIQ. NetworthIQ will become part of the moneyStrands application which is currently in private beta. No financial details were provided regarding the acquisition.
Gabriel defines moneyStrands as, "moneyStrands is an online money management solution that allows users to aggregate their online financial information in one place, providing them with an instant snapshot of all their finances. It provides users with the best personalized recommendations possible, helping them find new ways to save money and invest."
Mark Hendrickson believes that the acquisitions were made more for the human capital than the actual technology.
The personal online money management category is heating up with a variety of startups playing in the space including: Wesabe, Geezeo (a CN sponsor), Mint, and now moneyStrands coming soon.
Hi Allen, thanks for the post. Yeah, the personal finance space certainly is getting busy isn’t it?
Hey thanks for stopping by Ryan - it certainly is heating up - I wonder who will end up on top - will it be the one with the best app or the one with the best ability to generate press or something else?
It’s a good question, I’m sure all of us have our thoughts on the subject. Personally, I think the segment (online personal finance) is still very young and maybe even too young to worry that much about competition, though you can never avoid that completely. If I talked to people on the street, I’d bet 9 out of 10 would not have heard about any of these sites, let alone tried them out or used them consistently. It will be an exciting challenge to gain mainstream adoption, that’s for sure.