QuoteMedia, Inc. (QMCI.OB) - Streaming Digits in a Digital Age
It wasn’t that awful long ago that the whole idea of Wall Street, and trading stocks, was simply not standard fare for the average person. Just a mere 15 years ago, it was relatively uncommon for the average person on the street to have a working knowledge of the markets, and even less of an idea of how to buy or sell a security.
But times change and nowhere was that change more pronounced than when the Internet made its way into the homes and home offices of the American public. In a very short period of time, the rules had changed and life as we knew it would never be the same. The Internet empowered people with knowledge, and abilities that simply didn’t exist, and people loved it. No longer would waiting on the evening newspaper suffice, people wanted their news as it happened and the net allowed them to get it.
Nowhere was the change more evident than in the participation of the personal investor. Previously people had to use the telephone, and newspapers to keep up with any investing they may have done, and all transactions were accomplished by a broker. The Internet ushered in a new wave, a wave that allowed the everyday guy in the street the ability to buy and sell stocks and options right from his own desk. It was a new era in personal finance.
But new and exciting doesn’t always mean “best possible way” and as the net evolved so did the way people got their financial information. It didn’t take long at all before people were clamoring for something more advanced than the Yahoo finance page, and several companies attempted to bring live quotes to the masses. The early attempts were generally poor at best, but in “dot com” time, things change rapidly, and in 1999 a whole new way to do online investing made its way on the scene. That new way was the QuoteMedia Company, and their new product QuoteStream.
Quotestream is an unparalleled web-based streaming online portfolio management system that delivers instant “Real-Time” market data to both the consumer and corporate markets. The company’s streaming market data application offers a broad range of live, up-to-the-moment financial information. From Streaming Stock Quotes, Interactive-Dynamic Charts, NASDAQ Level 2 Data, Company News, SEC Filings, Insider Reports, Time and Sales, Market Indices, Options, Corporate Research to literally every piece of critical financial stock data available. And they do it all with a small (under 150Kb) web-based application.
This breakthrough product took online investing from its infancy straight into adulthood overnight. Instantly, personal investors could subscribe to the quotestream services, and have a plethora of “Real -Time” market data streamed to their desktop PCs. QouteMedia’s products were so well constructed however, that it wasn’t simply the “at home” investor that was using this product, brokerages and financial firms of all manner scrambled to obtain licenses.
QuoteMedia was soon providing comprehensive financial stock market data and research solutions for online brokerages, clearing firms, banks, public corporations, media portals and financial service companies. In less than two years, QuoteStream was an industry standard, being used by such firms as Research In Motion ( BlackBerry ®), Forbes, NASDAQ, the OTCBB, Dow Jones & Company, Forbes.com, Scotia Capital, Business Wire, Southwest Securities, Regal Securities, FBR Direct, AIM Trimark, Zacks Investment Research, ChoiceTrade, QTrade, Schaeffer’s Investment Research, Automated Financial Systems, WallStreet*E, and others.
But QuoteMedia wasn’t about to rest on its good fortunes. As demand grew and technology expanded, they launched their wireless versions, and soon they had connectivity and download capability with Research in Motion, palmOne, Nokia, Motorola, Siemens and Sony Ericsson. In fact, as of October of 2007, QuoteStream wireless is now downloaded to over 100 different types of PDA’s, making it the single biggest source of wireless quotations available.
A question that might arise from any prospective investor is simply “is the company growing?” and to that we respond with a robust and hearty yes. According to the CEO Keith Geulpa, QuoteMedia has increased its revenues by over 50% year over year and every year, since 2004. In fact, they just reported a 56% increase in revenues for the 3rd quarter of 2007 as compared to 2006.
So, what about the future? As is the case with most things investor related we aren’t happy with what you did, it’s what you’re going to do and here the light shines brightly too. The company is very excited about its new professional version of QuoteStream that they are in the process of launching, and they see the company meeting or exceeding their previous growth statements.
Another view may be had by not focusing on the company alone, but on the industry of investing. Personal investing has exploded, and every day people are demanding more and more. From CNBC’s showcasing of Jim Cramer’s show each evening, to the real possibility of global market participation, to 24 hour trading, to ever more financial products, the fact is that the financial industry is one of the largest growing industries on the planet. QuoteMedia, with their QuoteStream products, will be front and center during this incredible growth.
For years they’ve been happy working behind the scenes, building the best financial products available. Now they see the fruits of their labors, manifesting in tremendous revenue growth. Investors with their finger on the pulse of the financial industry know that the “business” of Wall Street is now also on Main Street, and QuoteMedia is there to provide services to both. With 50% per year revenue growth, how long can they remain behind the scenes? Our guess is “no longer”. The Industry is soaring, the company is growing and the numbers are compelling. One would be wise to “get a quote” on QMCI, and a Quotestream to platform to keep track of it.
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