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September 18, 2012

Winklevoss Twins Buy $1 Million Stake In “Facebook For Investors”

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SumZero Social Network for financiersWinklevoss Twins Tyler and Cameron have invested $1 million on SumZero, a social network that journalists call “Facebook for investors.” Much like StockTwits and Stockr the website allows visitors to join together and share investing and stock trading tips.

Unlike other sites SumZero focuses solely on buy-side investment analysts who work inhedge funds, mutual funds, and private-equity firms.

The community of nearly 7,500 members has been handpicked bySumZero co-founder Divya Narendra. According to theWall Street JournalNarendra has rejected nearly 75 percent of applicants.

The Winklevoss twins won a $20 million cash settlement against Facebook and $45 million in private Facebook stock. As we all known by now that stock is worth approximately half of its original value. Given the stock issues faced by Facebook perhaps SumZero is the perfect investment for the brothers. read more

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