Reuters is planning to launch a subscription social networking website for the finance industry, which will aim to pull together around 70,000 users when it launches.
According to reports, Tom Glocer, Reuters chief executive, wants to create a MySpace-style web community where business analysts, financiers and stockbrokers can interact online.
Reuters has not yet confirmed the name of the site nor when it is likely to launch, but it is anticipated it will appear before the end of the year.
Glocer said: “[The site] won’t have the latest hot metal videos and the ‘why I am into Metallica and the Arctic Monkeys’ blogs. Instead, we are going to give our financial services users the ability to post their research, or, if they are traders, their trading models.”
It is understood that the site, which will also be accessible to Reuters’ subscribers, will operate in a similar way to MySpace, but users will be adding “friends” who work in the finance industry to their online contacts book.
Glocer said: “People don’t want to have 100 friend requests from teenage girls in Florida if they are trading the credit derivatives market, but they probably are interested in being able to share research.”
The planned web community comes after Reuters opened an office in online world Second Life in October last year.
(courtesy of Brand Republic)
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