Our Interview with Sqoop
Sqoop helps journalists search and set alerts for federal public records, so far including the Securities and Exchange Commission, the US Patent Office and the federal court system. Additionally, Sqoop helps reporters quickly assess the news value by providing enhanced filtering tools, document intelligence and alerting mechanisms. This saves reporters precious time, helps them uncover stories they wouldn’t otherwise find easily, and sometimes even gives them the scoop. After having been on the market for less than a year, one in three business journalists in the U.S. has already registered for Sqoop.
Sqoop co-founders Bill Hankes and David Kellum.
What problem are you solving?
The significant time and repetition of routinely searching numerous public records sites looking for news tips. Not only does Sqoop help reporters save time (as much as 20% per week), it helps publishers generate more revenue-producing content.
Describe your solution to the problem above?
Sqoop uses search and data-extraction technology to aggregate filings and other information from public records sites, and then place that in our own database using a common schema, associating entities across disparate data sources, and then geotags. Furthermore, Sqoop surfaces information from the forms that are most useful in helping reporters’ more quickly determine news value. Finally, Sqoop's news alerts and docket watch alerts are delivered faster than any legal or intellectual property system we know of, and is on-par with established financial tools like Bloomberg and Morningstar.
List three reasons why you are better than your competitors.
- Although there are similar sites that provide search and alert capabilities designed for financial and legal professionals, none is specifically designed for the needs of journalists. Sqoop is journalist-first.
- None of the existing tools aggregate all of the data sources Sqoop does, which means reporters only need to search one site.
- Our alerting technology is as good or better (in most cases) than anything on the market serving the financial and legal community.
Sqoop's newly-released geographic search feature.
How does your company make money?
We don't make money yet, but in Q2 of 2016 we plan to generate revenue via search advertising (think Google Adwords).
What are your next steps? Future developments or features to be added to your product?
- Enhance the search intelligence tools we offer today (e.g. geographic search).
- Expand the data sources we already have to include a long list of others.
- Build out the front-end for our ad model, which we tested quite successfully in September of 2015.
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