Elon Musk’s X Ventures in Search of Data Partner for App-based Trading Service Development

Elon Musk is reportedly working on an app called X, previously known as Twitter, which is now seeking a financial data partner. The goal is to integrate a trading platform within the app. 

Insider sources and official documents obtained by the news outlets reveal that X has been reaching out to known financial data providers inviting them to propose ways of incorporating content and real-time stock data into the app. It’s unclear at this point whether any firms have responded with proposals by the deadline. 

As part of their pitch, X has highlighted the opportunity for potential partners to tap into a user base consisting of “hundreds of millions of qualified users.” Interestingly X does not plan on compensating these data partners instead, they are asking firms to outline their investment plans for this collaboration project. 

This move by Elon Musks X represents a leap in expanding the apps functionalities beyond its origins as a social media platform.

With the integration of trading features, X aims to utilize its user base and provide users with a more all encompassing platform that caters, to both social interactions and financial activities. It will be interesting to see how this progress unfolds and whether the desired partner, in data, eventually collaborates with X to achieve this endeavour.