Everything that is very profitable will eventually get disrupted...including Google. Symphony is a great story and company how to attack bloomberg
Google likes Symphony to the tune of $650 million. Symphony, the chat app aiming to take business away from Wall Street’s ubiquitous Bloomberg terminals, just got a big vote of confidence from Google. Per the Wall Street Journal (paywall), the tech giant invested an unspecified amount of money in Symphony at a valuation of $650 million. That would be a step down from the $1 billion valuation the Journal said the company was going for back in July (paywall). Just a year old, the messaging service’s main draw is that it offers the kind of secure chat that bank compliance officers prefer to the likes of Yahoo chat and at a price far cheaper than the thousands of dollars per year it costs for a Bloomberg terminal subscription (though with far fewer financial data capabilities).