Investing social network The UpDown has taken a slightly different take on investment communities than the likes of Marketocracy, Covestor, and others.
Users invest a simulated portfolio starting with $1 million and are paid based on their ability to consistently out-perform the S&P 500. And users who refer a friend pick up 10% of any earnings that friend rakes in. Since the beta launch in June, members have made thousands of dollars off the site.
But not only is The UpDown a destination for investors to collaborate and compete using virtual portfolios and real-life brokerage simulations, its members also have a chance to make real money derived from their on-site analyses.
By aggregating the trading activity of its members, they compile a community-based investment strategy, which is then used to manage a real-life fund. They believe that the organic competitive analysis is the ultimate hedge to investment risk.
The revenues from this fund are shared with the top members of The UpDown on a weekly and monthly basis. It all comes down to the individual investors - the more qualitative their insight, the higher the fund dividends, and the more money they'll earn.
Joachim Schoss provided the initial $500k in funding to the Harvard Business School startup. The company is currently in talks to close another angel round of $500k and will most likely be looking for a further $2 million in the summer.
......................................................................................................................
THE FROSTFIRE BUZZ TEST
1. Is this a unique product? 8/10
2. Is this business/product difficult to replicate? 7/10
3. Is this something that can appeal to a large global audience? 7/10
.......................................................................................................................
Комментариев нет:
Отправить комментарий