Dataminr in the News
27 Aug 2014:
A passerby notices a fire at a refinery in Louisiana and tweets a picture. Eleven minutes before the news hits the wires, a tech startup called Dataminr fires off an alert to subscribers in the finance industry, who trade ahead of the news.
One client is known to have made legendary amounts of money trading on two alerts—one about the Boston Marathon bombing and another indicating that an AP tweet of a bombing at the White House, which had sent the market tumbling, was a hoax. Many of Mr. Bailey’s clients say his service pays for itself in a single trade. And, yes, it’s easy to see how a tweet that alerts a trader to an event that shortly will cause a big market move could be almost infinitely valuable.
Dataminr is dependent on its deal with Twitter providing live access to the Twitter “fire hose” of tweets going back to when Twitter’s service started. Mr. Bailey admits to hearing from people who say of Dataminr, “What a great idea. What a great company, but if Twitter dies, who cares?”
“Twitter is not going to die,” he says. Dataminr is daily evidence of the value hidden in its data stream, a value not appreciated in the Facebook-style user-engagement metrics that Wall Street applies to the company. “What makes Twitter Twitter that other data sets aren’t?” he asks. The ability to “surface unknown unknowns”—to bring to light new and unpredicted facts about the world, tapping users’ willingness to serve as on-the-ground “sensors” for breaking events.
Dataminr is already a success. The company’s clients represent more than $500 billion of assets under management. But its business model suggests almost infinite possibilities.
8 Jul 2014:
This year’s AlwaysOn Global 250 winners represent leadership in global innovation, developing software and hardware solutions that are ushering in a new era of global prosperity. Each company was selected based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and media buzz.
20 Jun 2014:
At the intersection of big data and real-time information, Dataminr Chairman and CEO Ted Bailey told CNBC Friday that his start-up aims to make sense of the disparate Twitterverse to give finance clients a profitable edge…Using the recent siege on Iraq’s largest oil refinery by militants as an example, Bailey said: “We were able to detect that and alert our clients on Wall Street to that conflict and its potential disruption over six hours ahead any single other source they had access to.”
17 Jun 2014:
In the second annual Disruptor 50 list, CNBC features private companies in 27 industries—from aerospace to enterprise software to retail—whose innovations are revolutionizing the business landscape. These forward-thinking upstarts have identified unexploited niches in the marketplace that have the potential to become billion-dollar businesses, and they rushed to fill them. In the process, they are creating new ecosystems for their products and services. Unseating corporate giants is no easy feat. But we ranked those venture capital–backed companies doing the best job. Already it’s hard to think of the world without them.
Read more about Dataminr: 13. Dataminr, Data-mining Twitter.
12 Jun 2014:
Dataminr now has “half the top hedge funds and banks” among its 50 financial-service clients, says Dataminr co-founder and CEO Ted Bailey, who visited USA TODAY’s office here late last month to explain the company’s technology.
Bailey, a first-time entrepreneur, has in the past 18 months raised more than $30 million from several top-tier venture capital firms and stacked his executive team with veterans of technology and financial service giants such as Oracle and Bloomberg…
Dataminr’s technology, which examines 500 million tweets per day, applies complex mathematical analysis called machine learning to “surface what you didn’t know and need to know,” Bailey says.
7 Jun 2014:
A startup is finding valuable information in the Twittersphere.
Dataminr, a New York startup that analyses the 500m or so tweets sent out daily, goes from strength to strength. Founded in 2009 to scour the Twittersphere for important events and news not yet reported by the mainstream media, the firm now has dozens of customers in finance, the news business and the public sector. In January it and Twitter struck a deal to provide alerts to CNN. In April its tracking of tweets was part of a strategy by the authorities in Boston to avoid a repeat of last year’s terrorist attack at the city’s annual marathon…
Dataminr is one of a growing number of firms built on analysing data from Twitter, though most do not have its focus on real-time news alerts. “Dataminr’s technology is very advanced; every day there is another example of how far ahead they are,” says Vivian Schiller, a Twitter executive.
19 May 2014:
Dataminr, a New York startup that has raised $50 million and caters to hedge funds to emergency responders, is growing its footprint into media and probably other verticals because it has a knack for alerting customers to actionable tweets in a sea of noise.
The company has a bevy of examples where its service has been critical to making money and saving lives. Dataminr this year tracked the Boston Marathon for the City of Boston, flagged a shakeup at BlackBerry for traders minutes ahead of the actual news and started telling the tale of a train derailment in Lynchburg, Va. 46 minutes ahead of news reports.
13 May 2014:
Twitter has firmly established itself as the global 911 as well as a faster, more local CNN, a place to call for help and shout the news – a place where people flock when they need to know things fast…
The New York-based data analytics startup Dataminr offers an early example of this. With nearly $50 million in funding, the company sifts through tweets to identify newsworthy events. In March, when a gas explosion decimated a section of a Harlem city block, Dataminr confirmed the event had occurred within 200 seconds; it took local news stations 20 minutes to cover it. Because the startup excels at pattern recognition, it can quickly verify which information is accurate — and which, like the hacked Associated Press Twitter account that broadcasted two explosions in the White House, is a hoax.
16 Mar 2014:
In just the first minutes after the Harlem explosion, aggregate Twitter data revealed a lot about what had happened. People acted collectively as an on-the-ground detection and sensory network, depicting the scene with granularity long before first responders or reporters arrived.
These Twitter eyewitnesses in Harlem provided a mosaic of images and first-hand accounts — all emerging from one location in a short time. Additionally, the geo-proximity of tweets, the shape and rate of tweet propagation, and the linguistic signatures of the messages quickly illustrated the potential magnitude and importance of what had occurred — all before traditional information sources had even arrived on site.
Dataminr on CNBC’s Fast Money
4 Feb 2014:
CNBC’s Fast Money interviews Ted Bailey, Dataminr’s CEO.
4 Feb 2014:
Dataminr has become one of the more successful companies to build its business largely around analyzing Twitter data, turning its algorithms loose on the Twitter firehose to highlight key events for traders, public officials and, now, journalists.
29 Jan 2014:
Today, Twitter and CNN have announced a partnership with Dataminr to develop an alert system for journalists called Dataminr for News.
When news breaks, it can be minutes or even hours before newsrooms begin to report. Now, with the help of CNN and Dataminr, Twitter can be used to close that critical gap, between the eyewitness wanting to be heard and the journalist who wants to listen.
29 Jan 2014:
In partnership with Twitter and CNN, New York-based startup Dataminr said Wednesday it has developed a Twitter-based tool that can be used by journalists to detect developing news and find story leads more quickly.
Dataminr, founded in 2009, has been selling its algorithm-based technology to Wall Street traders and government agencies, but has redesigned it to be suitable for journalists hungry for scoops. With more than 500 million tweets sent per day, Dataminr for News processes the mountains of data on Twitter and sends relevant breaking news alerts in real time. The alerts can be delivered through a desktop application, email, pop-up, instant messaging and text message. Journalists can set alerts based on their particular topics of interest and regions of focus.
29 Jan 2014:
CNN is hosting a press event today to announce a partnership with Twitter and social analytics company Dataminr, resulting in a new tool called Dataminr For News.
Dataminr CEO Ted Bailey said the goal is to “alert journalists to information that’s emerging on Twitter in real time.” Basically, the technology looks at tweets and finds patterns that can reveal breaking news when it’s still in its “infancy”. Those alerts can be delivered in a variety of ways, including via desktop applications, email, mobile alerts, and pop-up alerts.
29 Jan 2014:
Twitter’s new head of news, Vivian Schiller, announced her first project today: a partnership with CNN and the New York startup Dataminr. The initiative will help journalists cover breaking news by making sense of the flood of public information on Twitter. Dataminr uses machine learning algorithms to analyze the Twitter firehose of data and highlight the needle in the haystack so CNN reporters can find the most important, relevant, and reliable facts and images from around the world.
29 Jan 2014:
Dataminr scans Twitter for patterns based on a variety of factors including language and location, which are then put through algorithms to select important events and present them to journalists as alerts. The company previously specialized in providing financial analysis of sentiment on Twitter. It rose to prominence by detecting the impending announcement of Osama bin Laden’s death before the major news outlets.
CNN president Jeff Zucker lauded the partnership as “a really improtant tool and resource as we continue to gather news,” in comments at Wednesday’s event. “There have been many examples already of how we’ve used Dataminr.”
29 Jan 2014:
We’ve known for sometime that Twitter is looking to make a move in the news game, but what that would look like was still unclear. Today, the blue bird’s intentions are starting to look a bit more concrete, with the announcement of Dataminr for News, a tool that pinpoints and alerts journalists of breaking news before every Joe with a dot com is tweeting about it. The tool, created in partnership with NY startup Dataminr, uses machine-learning algorithms to identify big and reliable stories and alert journalists via email, mobile alerts and other means.
29 Jan 2014:
News today from Twitter: Twitter would like to provide more of your news.
That’s the upshot of a press event in New York today, where Twitter, CNN and Dataminr, a Twitter-blessed data company, announced a new tool designed to help journalists find news on Twitter.
29 Jan 2014:
By the time a topic is “trending” on Twitter, it’s probably old news already. Today in New York City, data-crunching company Dataminr announced a new tool for journalists. Its goal is to seek out news stories before they’re heavily reported.
Dataminr For News does this by scanning Twitter, albeit in a slightly different way from existing filter tools. The news-gathering tool was developed as a partnership with Twitter and CNN, whose reporters and editors have been using the software for six months and have helped shape it during that time.
29 Jan 2014:
Twitter’s chief operating officer, Ali Rowghani, helped announce an interesting new product partnership today at an event in New York — a partnership between CNN and a company called Dataminr. The latter, which pays for access to the Twitter “firehose” of 500 million tweets a day, sells a tool that helps financial companies mine that information for useful signals. CNN now has access to a breaking-news version of that same tool, a kind of souped-up version of Tweetdeck, and soon other companies will as well, for a fee.