Google in talks to invest in Bloomberg rival Symphony

 
Jessica Morris
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Symphony is tipped as a rival to the Bloomberg terminal (Source: Getty)

Google has reportedly entered into talks with Goldman Sachs-backed startup Symphony Communication for a round of fundraising.

The talks are ongoing and no terms have been finalised, a source told Reuters.

Earlier today the Wall Street Journal reported people familiar with the matter said Google had invested in a new round of funding for Symphony, valuing the company at about $650m (£429m).

Read more: Goldman and others invest in new tech firm Symphony

Symphony Communication is a messaging service that's been tipped as a rival to the chat function on the Bloomberg terminal which market participants use to gossip, exchange information and make deals.

It's backed by a whole host of big banks such as Bank of America, BNY Mellon, BlackRock, Citadel, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Jefferies, JPMorgan, Maverick Capital, Morgan Stanley, Nomura and Wells Fargo.

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