Spiking (fintech)

Spiking is a social trading platform providing financial information about 10 stock exchange markets in Asia and Australia. By processing the latest disclosures published on the markets, the platform allows investors to track stocks for moves made by company directors and substantial shareholders. It also provides other relevant information, like the main shareholders of companies or the portfolios of sophisticated investors.

Spiking
Developer(s)Aly Pte. Ltd.
Initial release1 April 2016 (2016-04-01)
Operating systemiOS, Android
TypeSocial trading
LicenseFree
Websitespiking.com

Features

Spiking tracks the sophisticated investors from 10 stock markets in eight countries (ASX, HKEx, BSE, NSE, MYX, PSE, SGX, SET, HNX, HOSE) and sends users real-time notifications whenever these investors transact and made public their filings.[1][2] The platform consolidates the latest disclosures published on these markets and sends them to mobile devices almost instantaneously. All information by public companies and bona fide investors are verified using machine-reading algorithms to scan stock exchange filings.[3] The scan is done every minute, and the information is posted almost instantly on the app.[4][5]

Spiking users can see who the top 20 shareholders of a company are, the price and quantity of their latest transactions, and the other stocks these investors have in their portfolios. The mobile app also allows users to 'follow' their favourite counters or celebrity investors, and keep tabs on their movements. The users can form private chat groups.[1]

The app provides sophisticated investors (those who invest in more than 5 percent of a public-listed company) with resources to conduct due diligence, influence board decisions and access to more intimate knowledge than most other investors.[6]

Spiking Finance aggregates recent news headlines, announcements, tweets and buy/sell activity of the companies and investors selected by the user. Spiking Forum organizes discussion threads by company for member discussions.[7][8]

Spiking is available on iOS and Android mobile operating systems.

History

Clemen Chiang, Ph.D.[9] (the CEO and founder of Aly Pte. Ltd.) mentioned that he developed the idea of this mobile app from his personal observations as a private investor of 15 years. Many times the decision making process had to rely too much on speculations and rumors. In order to make better sense of unexplained spikes in market activity, he thought of a platform to consolidate big data and relevant information and he spent 20 months and $250,000 developing the app.[10][11]

An early investor was Quest Ventures, China's leading venture fund for technology companies that have scalability and replicability in large internet communities. Spiking was also supported by a grant from the National Research Foundation, Prime Minister's Office, Singapore, under its i.JAM Reload Programme. It was elected to participate in the Startupbootcamp FinTech Pitch Day 2015 in Hong Kong, and Startupbootcamp Selection Days 2015, in Singapore. It was also one of the finalists of the Benzinga Fintech Awards 2015 in New York, for Research Platforms & Tools - Best in Class.[6]

On 1 April 2016, Spiking was released for free download on the iOS App Store, providing financial information about 8,000 sophisticated investors operating on the Singapore Exchange (SGX). Later, an Android version was also launched on Google Play and other stock markets from Asia and Australia were included in the platform. At the moment of the launch in April 2016, the company expressed its intention to expand through seed funding into regional markets with high smart phone penetration.[6] In September 2016, it exceed its seed funding target of S$1 million ($732,828).[12][13][14] The main investors are:[7][15][16]

  • Andrew Chen, Managing Director of Raffles Asia Capital Pte Ltd
  • Douglas Foo, Chairman of Sakae Holdings Ltd (SGX:5DO) and President of Singapore Manufacturing Federation
  • Koh Boon Hwee, an angel investor
  • Lim Ah Hock, Executive Chairman of Pestech International Bhd (KLSE:PESTECH)
  • Loo Cheng Guan, Independent Director of Valuetronics Holdings Limited (SGX:BN2)
  • Ong Chu Poh, Group Executive Chairman & Group CEO of Econ Healthcare Group
  • James Tan, Managing Partner of Quest Ventures and Co-founder of 55tuan (NASDAQ:WOWO)
  • Toh Soon Huat, Chairman of Novena Foundation Pte Ltd
  • Kazumasa Tomita, CEO & Founder of ZUU Co Ltd

In October 2016, Spiking was the Gold Winner of Singapore infocomm Technology Federation Awards 2016 at the category Best Innovative Start-up (Early Stage).[17][18] The motivations for the award were the innovative approach to solving the asymmetrical information problem for retail investors of the stock market[19] and the display of a very international outlook, having the potential to grow big on the international stage.[20]

On 13 March 2017, Spiking released the new version 3.0 iOS app, with new features as well as expansion into Bursa Malaysia. As a result of the release, it became No.1 on the Top Gross iPhone Apps (Finance) in Singapore on 23 March 2017.[21] A new Android version is released on 7 April 2017.[22]

Spiking is one of Singapore's Hottest Startups 2017 (Singapore Business Review).[23]

In April 2017, Clemen Chiang Ph.D. was invited as a speaker at the International Mobile Conference for Business.[24]

As of 7 May 2017, Spiking is ranked 15 under iPhone - Free - Finance (Singapore) and ranked 57 under iPhone - Grossing - Finance (Singapore),[21] while in Google Play Ranking is ranked 25 under Top Free - Finance (Malaysia).[22]

In August 2018, a new seed and pre-A funding reached a total of S$2.23 million, necessary for further expansion of the platform, including by adding digital assets covered in the international cryptocurrency markets.[25]

Spiking raised more than US$30 million in the initial token offering for its blockchain platform, conducted in three phases, in October - December 2018.[26][27]

In December 2018 Clemen Chiang published the book Spiking To The Moon: A Beginner’s Guide To Understanding Whales In The Cryptocurrency Market, which became No.1 on Amazon.com in the categories Investing Basics, Online Trading and Crowdfunding. He spoke at a variety of events and congresses, including the Masters of the Century event (October 2019),[28] the 2019 Chinese National Achievers Congress,[29] the 2019 UK National Achievers Congress,[30] and the Chain 2020 Blockchain Educational Event in Hong Kong.[31]

Stock markets tracked

References
  1. Marianne Estioco (22 April 2016). "From zero to hero: This app lets you stalk top investors and trade like a pro with a single click". Singapore Business Review. Retrieved 3 May 2016.
  2. ""Spiking" 手机应用软件免费提供追踪股票信息". Lianhe Zaobao. 2 April 2016. Retrieved 3 May 2016.
  3. Farhan Shah (July 2016). "The Wisdom of Crowds". August Man. Archived from the original on 6 October 2016. Retrieved 5 October 2016.
  4. Jacquelyn Cheok (2 April 2016). "Wanna track big boy's stock trades? Spiking levels the playing field for you". The Business Times. Retrieved 3 May 2016.
  5. "95.8FM 早点正能量". Capital 95.8FM. 9 April 2016. Retrieved 3 May 2016.
  6. Nurdianah Md Nur (1 April 2016). "Spiking mobile app tracks stock transactions of Singapore's elite investors". Computerworld Singapore. Archived from the original on 1 June 2016. Retrieved 3 May 2016. Also on CIO Asia
  7. Terence Lee (19 September 2016). "This app helps average investors become Warren Buffett". Tech in Asia. Retrieved 5 October 2016.
  8. Tang See Kit (23 September 2016). "Want to trade like the big boys? This homegrown app could help you". Channel NewsAsia. Retrieved 5 October 2016.
  9. Clemen Chiang (2017). "Examining the impact of viral marketing on social action within computer-mediated social network sites (PhD Thesis)". University of Canberra.
  10. Marissa Lee (2 April 2016). "New app to track big players' share trades". The Straits Times. Retrieved 3 May 2016.
  11. S. Sakthivel. "Whale Spotting In Singapore". Storm.sg. Retrieved 5 October 2016.
  12. "Spiking closes $1.03m seed round". The Straits Times. 22 September 2016. Retrieved 5 October 2016.
  13. "Spiking". Crunchbase. Retrieved 5 October 2016.
  14. Jacquelyn Cheok (20 September 2016). "Accelerators pivot to next generation". The Business Times. Retrieved 5 October 2016.
  15. Sainul Abudheen (19 September 2016). "Spiking raises over US$1M funding to make you a billionaire by trading on stock markets". Yahoo News. Retrieved 5 October 2016.
  16. Jude Chan (19 September 2016). "Financial whale-watching app Spiking reels in the big fish". The Edge Markets. Archived from the original on 2016-10-09. Retrieved 5 October 2016.
  17. "SiTF Awards 2016 Winners". Singapore infocomm Technology Federation. Archived from the original on 9 October 2016. Retrieved 5 October 2016.
  18. "Hot Contenders to bag GOLD at SiTF Awards 2016". TechStorm TV. 30 September 2016. Archived from the original on 9 October 2016. Retrieved 6 October 2016.
  19. Aaron Low (10 October 2016). "Helping retail investors gain an edge". The Business Times. Retrieved 10 October 2016.
  20. Aaron Low (10 October 2016). "The gold standard in innovation". The Business Times. Retrieved 10 October 2016.
  21. "What's New in Version 3.0 Spiking app". iTunes. Retrieved 5 October 2016.
  22. "Spiking - Social Trading". Google Play. Retrieved 5 October 2016.
  23. "Singapore's Hottest Startups 2017" (PDF). Singapore Business Review. February–March 2017. Retrieved 31 March 2017.
  24. "MBLT'17 International Mobile Conference for Business". MBLT. Retrieved 15 May 2017.
  25. "Fintech Asset Tracking App Spiking Raises S$2.23 Million in Pre Series A Funding". Crowdfund Insider. 23 August 2018. Retrieved 27 March 2020.
  26. "Stock tracking app Spiking raises $30m in private token sale". Tech in Asia. 25 October 2018. Retrieved 27 March 2020.
  27. "Spiking's Initial Token Offering is Successfully Completed". Coin Speaker. 24 December 2018. Retrieved 27 March 2020.
  28. "Masters of the Century". Retrieved 27 March 2020.
  29. "2019 Chinese National Achievers Congress". Retrieved 27 March 2020.
  30. "2019 UK National Achievers Congress". Retrieved 27 March 2020.
  31. "Chain 2020 Blockchain Educational Event". Retrieved 27 March 2020.
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