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How LinkedIn Could Be a Serious Threat to Bloomberg



Have you ever used a Bloomberg terminal? If the answer is no, you have to understand one thing. It's amazing. The terminal is such a remarkable tool with nearly limitless possibilities. But, to quote a Bloomberg sales person, "if you want to drive a Porsche, you have to pay Porsche prices. And that's the hook. Bloomberg is not only market leading in quality, but it's also market leading in pricing. As in, it's very, very expensive.

An expensive terminal




Enter LinkedIn


LinkedIn had a reputation of being a company that only stored CV's and that pretty much only catered to the unemployed. In the previous year, however, this impression seems to have totally shifted. LinkedIn has become an actual social network for the professional. It's all business.

And what's more important: everyone's on it. If you are a banker, broker, trader, market maker or whatever else position you can have in finance, chances are you are on LinkedIn.


So what can happen? Well, let's just imagine that LinkedIn used its vast library of finance professionals to create a standalone chat-service. It could be free to use and mirror all of the legal benefits of the Bloomberg chat and mail-service.

This service could be integrated into one of Bloomberg's many competitors and there you have it: a real competitor.


This story by Sverre Rorvick Nilsen originally appeared on Quartz.

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