Xignite gets social with kaChing!

from Xand : JoelYork - 31st December 1969

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Making professional-grade financial market data available through on-demand Web services enables all kinds of new and creative applications that would be too costly or difficult to build using traditional data feeds. So, we're always jazzed when we get a client that is doing something completely original like kaChing.

kaChing uses open source and social networking to make the stock market available to everyone.

kaChing uses a unique open source and social-networking strategy to offer everyone the chance to play the stock market and access the investment returns, insights, transparency and talent previously only available to wealthy individuals. It also happens to be the biggest marketplace for investing talent with over 360,000 managers of whom 1,500 created diversified portfolios that generated positive returns in 2008, as compared to only one mutual fund that generated positive returns over the same time period. And, its the biggest financial application on Facebook. During the initial development phase, we were working with them in stealth mode. But today, we issued a press release. kaChing also has some well known Web luminaries backing the company (check the about section of the release). Pretty cool stuff!

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