Delphia Strengthens Data Rights With Acquisition of Fathom Privacy
NEW YORK, Dec. 7, 2022 /PRNewswire/ -- Delphia ("the Company"), a membership-based investment collective where people pool their data to gain access to exclusive investment strategies, today announced its acquisition of Fathom Privacy, a data rights company that allows individuals to take ownership of their personal application data. The acquisition closed in October 2022 and the Fathom platform is set to be fully integrated by the end of 2022.
Fathom Privacy streamlines data sharing across apps by packaging data collected from consenting users into an easily digestible format, allowing for efficient data portability. Fathom's services are compliant with US data rights legislation and Delphia will be integrating the core technology from Fathom to interact with user data. The technology increases the overall transparency of Delphia's platform by compiling user data into one easy-to-interpret package that allows contributors to oversee what data is accessed and how it's used. The acquisition gives Delphia's community greater control and ownership over the data it shares and strengthens the Company's commitment to collect member data in a consensual, secure, and ethical manner, while simultaneously maximizing the return potential for data contributors.
Andrew Peek, CEO of Delphia, commented, "We're excited to fully integrate Fathom Privacy into the Delphia platform and continue leveling the playing field between Wall Street and Main Street. The acquisition is the latest step in our mission to revolutionize investing through ethical data use and give our community access to hedge fund-grade investment strategies. Fathom's technology will give members the reins to take ownership of their data and allow them to ensure that the data we're collecting is being used to maximize the benefits received from contributing."
The investment strategies offered by Delphia use an AI that is trained on both financial and consumer data. To this end, Delphia relies on its community to willingly share their personal data in order to create a proprietary data set that can lead to greater predictive capabilities than what Wall Street hedge funds can accomplish. The integration of Fathom's technology will play a key role in the Company's ability to access and interpret data that isn't available to other hedge funds for purchase, allowing Delphia to build investment strategies for Main Street that have an edge over Wall Street.
Peek concluded, "We think the Fathom acquisition and the features it brings, will further incentivize data contribution which, in turn, will improve our stock selection AI. Delphia is committed to offering our community unmatched value for contributing their data, as can be seen by our recently launched Delphia 500 investment strategy. We're looking forward to working alongside our members to maximize their chances for greater returns."
Zane Witherspoon, Fathom's Cofounder and CEO, shared, "The value of consumer data is no secret — that's why Fathom helps consumers take ownership of their data today. Our objective aligns with Delphia's goal of enabling people to invest their data alongside their capital to build wealth faster. Delphia's investment algorithms combined with our consumer data are a perfect match. We're excited to join Delphia, reach more users, and further our shared mission to help people benefit from the value of their data."
The financial terms of the deal have not been disclosed.
About Delphia
Delphia was founded on the belief that if data is what generates wealth, then those who create it should have access to the world's best investment opportunities. It is a membership-based investment collective where people pool their data together, which will improve the investment strategies made available to the community. Delphia's proprietary algorithms combine the data invested by its members with commercially available data, to make predictions across thousands of publicly traded companies up to two years into the future. In addition to its active retail strategies, Delphia operates a quantitative hedge fund, which in its first year was the fifth highest-performing fund, by single-year performance, in equity long-short history.*
Delphia has offices worldwide, including New York, San Francisco, Toronto, and London.
Delphia's mobile investment platform is currently available for download on the App Store and Google Play. Further information is available at www.delphia.com
*Source: HFR, Inc. www.hfr.com. Delphia (USA) Inc. has extracted information from data contained in the HFR Products as of July 25, 2022. HFR has not reviewed, verified, approved of, or endorsed Delphia (USA) Inc.'s work product. Delphia (USA) Inc. and HFR are not affiliated.
Media Contact
Peter Padovano
M Group Strategic Communications (on behalf of Delphia)
646.859.5953
[email protected]
SOURCE Delphia
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