Investools, (SWIM) the NY-based online brokerage/education/community, has purchased MyTrade.com, one of several social networks catering to individual investors. Investools didn’t disclose a price for the cash and stock deal, but we hear it’s single-digit millions; we’d guess it’s in the $3 million to $5 million range.
Whatever the price is, it’s a nice coup for MyTrade.com, which is a three-man operation based out of
Lexington Louisville, Ky, and for their investors, who include Howard Lindzon. Howard explains the brief history of company, and his involvement, here. Meanwhile MyTrade cofounder Andy Swan apologizes in advance to Internet Explorer users, who are having trouble logging on to his site today; he suggests trying the site using Mozilla’s Firefox.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.