Messenger Startup Perzo Could Disrupt Bloomberg's Business

Now watching

Next video starts in : 7 Play

Messenger Startup Perzo Could Disrupt Bloomberg's Business

Messenger Startup Perzo Could Disrupt Bloomberg's Business
Replay video
Up next

Various - New Look Wireless

Unlock your personal NFL Now stream by signing in to NFL.com

Messenger Startup Perzo Could Disrupt Bloomberg's Business

by TheStreet.com Videos 1:07 mins

Messenger Startup Perzo Could Disrupt Bloomberg's Business

by TheStreet.com Videos 1:07 mins

Instant messaging service Perzo is reportedly negotiating a deal with a group of investment banks led by Goldman Sachs. The Wall Street firms want a stake in the Palo Alto based tech startup and hope to build their own in-house messaging platform similar to the messaging system the Bloomberg terminal offers. Other than Goldman, the group includes JP Morgan, Morgan Stanley, Deutsche Bank, HSBC, Bank of America, BlackRock and Maverick Capital. They plan to collectively invest between $40 and $50 million in Perzo. Bloomberg came under pressure after the staff of Bloomberg News was accused of checking the online activities of unsuspecting terminal subscribers. The banks want their privacy and have been looking for alternatives. Perzo's application is open source, a user can simply plug it into their system and make changes. It's very different from Bloomberg, where a user has to commit to using the terminal and pay the hefty monthly fees it comes with.

Must Watch

Must Watch

  1. Various - New Look Wireless

  2. 1:29

    Massive Black Holes Whip Dark Matter Into a Frenzy

  3. 0:37

    70-year old woman finishes ultramarathon

  4. 3:28

    Tiny newborn horse “will steal your heart”

  5. 1:28

    7 Camping Hacks Everyone Should Try This Summer

  6. 2:02

    The World's Greatest Mouth Stuffer

Other Space

  1. 27:05

    Other Space Episode 1: Into the Great Beyond...Beyond

  2. 25:20

    Other Space Episode 2: Getting to Know You

  3. 25:51

    Other Space Episode 3: The Death of A.R.T.

  4. 25:46

    Other Space Episode 4: Ted Talks

  5. 26:44

    Other Space Episode 5: Trouble's Brewing

  6. 27:02

    Other Space Episode 6: Powerless