Bloomberg and Thomson Reuters can charge banks, hedge funds, and traders thousands of dollars per terminal user per year because both companies break tradeable news faster than anyone else on the planet.For this, Bloomberg and Thomson Reuters have massive valuations.
Bloomberg is worth ~$35 billion, Thomson Reuters, ~$25 billion.
A startup out of Amersterdam, called Owlin, thinks it can do better than both.
In a press release announcing $250,000 in in funding from NoRo Venture Capital, Owlin says its service will break news 10-15 minutes faster than Bloomberg or Reuters.
The secret sauce:
Owlin is a new way of detecting events, analysing the web and ranking news. Nowadays everybody can be an editor, news can pop up on all kinds of online channels. The giants in the news industry can’t keep up with the mass of niches by their sheer numbers alone. Owlin brings order to this chaos by looking at millions of blogs and news sites, applying complex algorithms to highlight critical information, important trends or breaking news. By cutting out the middleman and looking in the right places, Owlin can deliver bottom-up news 10 to 15 minutes before Bloomberg or Reuters.
We’re sceptical, to say the very least, but it’s always fun to meet a highly ambitious startup taking on global powers.
According to the press release, Owlin “is a dream come true for its two founders, Richard Kraaijenhagen and Bas van Ooyen.”
“At the age of 20 and living in a little town in the Netherlands, they found that school didn’t challenge them sufficiently. So, they dropped out, started their own company and, within a year, got selected from hundreds of start-ups worldwide for Rockstart.Accelerator. They moved to Amsterdam and before they even realised, pitched in front of dozens of people and negotiated with venture capitalists.”