Funding Round Overview

Update
Founded:
March 12, 2007
Founders:
Michael Reich, Georg Ludviksson, Phuc Truong
Headquarters:
Cambridge, MA
Funding:
$1.80M
Categories:
Social Media

UpDown, a virtual investing platform, allows investors to improve their skills through collaboration, competition and aggregated knowledge.

Description

Update

The UpDown is a new investing social network with a slightly different take on investment communities. Founded by three Harvard Business School students, UpDown users are able to invest a simulated portfolio starting with $1 million and are paid based on their ability to consistently out-perform the S&P 500. Also, those users who refer a friend pick up 10% of any earnings that friend achieves.

Beta launch took place in June 2007 and some members have been able to make thousands of dollars off the site. According to co-founder Michael Reich, the company's ultimate goal is to build up a group of users who consistently out-perform the major indices and then create an investment vehicle that mimics the behavior of those users. The challenge is to pinpoint a subset of users whose investment behavior is both trustworthy and scalable to large investments.

As of April 2008, UpDown has more than 40 thousand... See More

Current Team (4)

Update

Products (1)

Update
  • Cb default image

    The UpDown

    The UpDown was added to CrunchBase in 2007

Funding Rounds (3) - $1.80M

Update

Investors (1)

Update

Offices/Locations (1)

Update
  • Office

    Cambridge, MA

    USA

Competitors (4)

Update
  • 68880043904efacc7ede97bce3349bfd

    Mint.com

    Mint.com is an online personal finance service helping users manage their bank, credit card,..
  • A4024e3ce72b6175ba782650fc00819e

    SayHired, Inc.

    Vestopia is an online platform that enables users to monitor the trading and investing activities..
  • Eabf652ca224be7fbd435b9752f9ab80

    BullPoo

    BullPoo is one of the pioneering websites in the field of social networking for finance and stock..
  • 6b68eb642b2747b5d88e96f273549103

    Cake Financial

    Cake Financial is a social investment service that allows individuals to track all their..