Commonstock Raises $25M in Series A Funding
Summary
Commonstock, a San Francisco, CA-based broker-agnostic social platform that amplifies the best investing knowledge, raised $25m in Series A funding. In conjunction with the funding, Philippe Laffont, Bill Ackman, Ari Emanuel, and Michael Ovitz also joined the round as well as Li Jin of Atelier, Turner Novak of Banana Capital, and Jill Carlson. Led by David McDonough, CEO and founder, Commonstock is a social network that amplifies the knowledge of the best investors, verified by actual track records for signal over noise. Commonstock works by connecting users’ existing brokerage accounts to the app so that they can share their real-time portfolio by percentage (not dollar amount), performance, and trades. Users will get real-time alerts when friends buy or sell, so they can copy each other’s trades and invest together.