Cheddar, A post-Cable Network announced their acquisition of the month old $50,000 crowdsourced Twitch Trading Game StockStream via The Cheddar Medium Account.
StockStream was created by Software Developer, Mike Roberts which since its creation in May has had thousand of players voted on trades of its $50,000 portfolio on Twitch.
The Platform has been featured across various global media as an innovator in crowdsourced media more so the Wall Street Journal.
The Acquisition will see Mike Roberts Relocating to New York City Joining Cheddar as its new StockStream Manager who will report to the CTO of Cheddar, Ross Cooperman.
“He’s going to bring StockStream to all our platforms and continue to let his imagination run free. We are also going to get one of our great financial sponsors to integrate with and sponsor StockStream.” – Jon Steinberg, founder and CEO of Cheddar.
Cheddar intends to increase StockStreams account balance from its current value at $50,000 to $100,000 along with the expansion of options to include not just stocks but commodities, industry portfolios, indexes, and other asset classes.
Mike Roberts said he was thrilled to join cheddar along with adding “They are the leader in millennial business news, and I’m excited to join their technology team and really scale and expand the StockStream platform, as well as create almost a ‘labs’ initiative inside the company.”
The acquisition has also seen the website been retitled from Cheddar to Cheddar StockStream.
The company aligns well with Cheddar, is a live Post-Cable Network focused on covering the most innovative products, technologies, and services transforming our lives.
Was this a well thought out acquisition? What’s next for StockStream? Leave your comments below. For more updates feel free to subscribe to us via email within out footer or follow us on social channels listed on the left.