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« Can't buy me...community? | Main | Lawsuits don't play a part in winning social media strategies »
AOL launches finance blogs
AOL, which famously tried to build a walled garden which it thought could usurp the rest of the internet ("We have content, but the web doesnt,” they thought. It wasn’t so long ago, either.), has launched their own network of financial blogs.
For the initiative, AOL and Weblogs, Inc. collected a staff of journalists, industry experts, and independent investors to author single-stock-focused blogs. “Individual investors are the most passionate about individual stocks, and the further you get away from individual companies, the more the passion gets diluted,” Moe said. “What we want to do is become the place for any holder of these stocks--the place where they go there every day and know they’re going to get something they’re not going to get anywhere else."
AOL has identified a community - and it’s quite a broad one - that they’d like to influence. Whether the value they provide to readers is enough to bring great benefits has yet to be decided - and it will be decided, not by AOL, but by that community.
Link via Adriana Cronin-Lukas
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is there now growing evidence that the finance sector will embrance blogging?
i noticed that on the recent launch of google finance - http://finance.google.com/finance - that they show related blog posts next to company information.
this is astonishing in an industry that is obsessed with only publishing and citing so-called "reputable" content and sources.
is this move by aol part of a growing trend?
Posted by :john belgrave | May 8, 2006 12:35 PM
John, I think that AOL has had some good guidance from Weblogs, Inc founder Jason Calacanis (they bought Weblogs, Inc from him last year) and they may just be learning that reputation comes from the network when it comes to the internet, and that the credentials they know only go so far. Personal finance is a hugely lucrative vertical (I know from my work in search that the most expensive keywords are ones relating to loans), so it makes sense that AOL would want to build a thought leadership image in that area, via the social media network. Whether it will work out that way remains to be seen...
Posted by :Jackie Danicki | May 8, 2006 10:55 PM