Andy Swan
๐ค SpeakerAppearances Over Time
Podcast Appearances
My trade was basically a, um, it w it was a Twitter geared directly towards, um, options traders and very active stock traders.
And we developed a technology that allowed people to, with one click, copy another person's very complex options trade, which made it a lot easier for people to share what they were doing, to learn about options trading, that sort of thing.
And so part of the reason that we sold was because basically the service, MyTrade itself, was fairly useless without a brokerage back end.
And so
We developed the technology.
We had a longstanding relationship with TD Ameritrade's subsidiary, Thinkorswim.
And, you know, I pretty much developed it with them in mind.
And so it kind of worked out well for us and for them.
It's now probably the number one stock trading and options trading community in the world.
We've raised a little bit.
What's a little bit?
$500,000 or $600,000.
Okay.
I don't think that we ever really tapped into that money because we sold the company like three or four months after raising.
So really, we just diluted our own ownership and kind of a lesson learned there.
Well, we didn't know that the sale was coming.
You know, we thought that there was a good opportunity to at least partner with them.
We did not know that they would jump on the idea of acquiring it.
But, you know, so we raised the money thinking, all right, this will get us 12 to 18 months worth of capital to build this out properly.
But, you know, they kind of acquired us right out of the starting gate, which we did not expect, but it turned out to work out well.