Tegus pioneered transcript library model

This was a business model break, not just a product tweak. Traditional expert networks made money by brokering one call at a time, then letting the insight disappear into one client workflow. Tegus treated each completed call as inventory that could be searched, tagged, resold, and bundled into a seat based research product, which turned a low margin service transaction into a reusable data asset and pulled the company closer to Bloomberg, FactSet, and AlphaSense style platforms.

• The key change was where value sat. Tegus charged roughly $300 to $400 at cost for the live call, but targeted about $25K for a library seat, so the economics depended on many users reusing the same transcript instead of one client paying a large markup for one conversation.
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• Making transcripts reusable required product work that old expert networks did not need. Tegus tagged every company mentioned in a call, linked users to the exact relevant section, and added summaries, so an interview about one company could surface useful detail on its suppliers, rivals, or customers.
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• The model proved important enough that incumbents and adjacent platforms moved toward it later. GLG launched a formal transcript library, and AlphaSense bought Tegus in June 2024 to add expert transcripts, private company content, and workflow data to its broader research stack.
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The next step is turning transcript libraries into answer engines. Once expert calls sit in a structured corpus alongside filings, models, and earnings calls, the winner is not the firm that books the most calls, but the one that helps investors find the right sentence, compare it against other datasets, and act on it fastest.