Perplexity Launches Free Financial Data Access for Indian Users

Revolutionizing Stock Market Insights

US-based artificial intelligence-powered search engine company Perplexity has made significant inroads into the Indian market by launching free access to financial data related to Indian stock exchanges and all listed companies through its Finance tab.

Currently, Perplexity features three main tabs on its homepage: Finance, Travel, and Education, each designed to cater to diverse user interests.

Empowering Retail Investors

In a recent statement shared with Economic Times, Perplexity announced that Indian users can now stay updated on market trends, conduct deep dives into both BSE and NSE-listed stocks, and keep track of earnings from Indian companies via Perplexity Finance.

The platform allows users to search for stock prices of specific companies, access historical data, and monitor company earnings. The company aims to empower retail investors to build their market positions based on these comprehensive data sets.

Market Trends and In-Depth Coverage

Beyond just stock prices, Perplexity Finance provides users with a summary of market trends and extensive coverage of individual companies, enhancing the investment experience.

Expanding to the Crypto Industry

In addition to stock market data, the platform also offers insights into the cryptocurrency sector by sourcing data from Coinbase, broadening its financial information portfolio.

Data Accessibility Without Cost

What sets Perplexity apart is its commitment to providing these valuable data sets and insights free of charge to Indian users. Traditionally, such information is often available only through stock brokers and financial institutions at a premium.

Shaking Up the Market Landscape

As noted by Jeff Grimes, head of live events product at Perplexity, “Much of the information you can find in Perplexity Finance exists behind a paywall on other platforms—such as historical price and volume data, natural-language stock screening, and live company earnings. Perplexity makes it available to all users for free.”

Rapid Growth of Perplexity Finance

While specific user metrics were not disclosed, Grimes highlighted that the usage of Perplexity Finance has surged more than eightfold since its initial launch earlier this year.

Strengthening Ties with India

This development arrives at a pivotal moment for Perplexity, founded by Chennai-born entrepreneur Aravind Srinivas, who has been intensifying company efforts to cater to the Indian market.

Recently, the company partnered with telecom giant Airtel to provide its AI-powered search engine, Perplexity Pro, free of charge to approximately 360 million Airtel users.

Building India-Focused Solutions

Perplexity is committed to developing solutions that address the unique needs of the vast Indian market, ensuring accessibility and relevance for its users.

User-Friendly Design

Grimes explained that the portal has been designed to be intuitive, enabling any stock market or finance enthusiast to easily access and understand stock exchange data and market movements.

Recent Funding and Future Aspirations

In July, Bloomberg reported that Perplexity raised $100 million in funding, valuing the startup at an impressive $18 billion. This milestone is indicative of the company’s potential to redefine financial information access.

Moreover, the company is reportedly making headlines with its $34 billion proposal to acquire Google’s widely-used web browser, Chrome, signifying its ambitions in the tech landscape.

Conclusion

The launch of free financial data access signifies a promising shift in how Indian investors engage with stock market insights. Perplexity is positioned to challenge traditional data providers while catering specifically to an Indian audience. As the platform evolves, it will be fascinating to see how it impacts the market dynamics in both the short and long term.