Winklevoss 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 in hedge funds, mutual funds, and private-equity firms.
The community of nearly 7,500 members has been handpicked by SumZero co-founder Divya Narendra. According to the Wall Street Journal Narendra 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…]