With Facebook behind them, Tyler and Cameron Winklevoss invest in a social network for professional investors.
The notorious Winklevoss twins just gave SumZero, a social networking site for professional investors, a financial boost, according to The Wall Street Journal.
Tyler and Cameron Winklevoss, the purported "masterminds" of Facebook, have pumped a $1 million investment into the four-year old platform, which happens to be run by fellow Harvard alumni Divya Narendra.
Yes, Narendra is the guy who--with the Winklevoss twins--asked Mark Zuckerberg to work on ConnectU in 2002. "The band is back together," Tyler told the outlet.
As for the start-up, SumZero works much like Facebook. It requires that its users run hedge funds, mutual funds or private equity firms. Narendra told the Journal that he reviews every application for the site, rejecting about 75% of them. The idea, he said, is to have a platform for investors to exchange ideas and chat about their current investments.
So far, the network reportedly has 7,500 users.
The Winkelvii, who reportedly have $65 million in Facebook settlement money to spend, told the Journal that they plan to be part of the website’s daily operations. SumZero’s New York office will open next month.
"We want to get involved and really roll up our sleeves," Tyler Winklevoss told the Journal.