Overview

Update
Total Equity Funding
$1.75M in 3 Rounds from 1 Investor
Most Recent Funding
$1M Angel on September 9, 2008
Headquarters:
Cambridge, MA
Description:
UpDown, a virtual investing platform, allows investors to improve their skills through collaboration, competition and aggregated knowledge.
Founders:
, ,
Categories:
Social Media
Website:
http://www.UpDown.com
Social:

Company Details

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Founded:
March 12, 2007
Employees:
4 in Crunchbase

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 registered users. The demographics aren't clear but seem to be heavily tilted towards students.

Funding Rounds (3) - $1.75M

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DateAmount / RoundValuationLead InvestorInvestors
Sep, 2008$1M / Angel1
Jan, 2008$750k / Angel1
Jul, 2007undisclosed amount / Angel0

Investors (1)

InvestorRound(s)Partner(s)
Angel-
Angel-

Current Team (4)

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Products (1)

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  • The UpDown was added to CrunchBase in 2007

News (7)

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Competitors (2)

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  • BullPoo is one of the pioneering websites in the field of social networking for finance and stock enthusiasts.
  • Cake Financial is a social investment service that allows individuals to track all their investments in one online portfolio.

Offices/Locations (1)

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  • Office

    Cambridge, MA

    USA

Past Team (1)

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