Photo: Screengrab from SumZero
SumZero is a members-only social networking site for buyside professionals that recently received an investment from Cameron and Tyler Winklevoss, The Wall Street Journal’s John Jannarone reports. Back in June, VC firm Winklevoss Capital made its first investment of $1 million in SumZero–a site founded by their former Harvard classmate/ConnectU co-founder/ally in the Facebook fight, Divya Narendra, the report said.
SumZero, which was created in 2008, is a social network just for hedge fund, mutual fund and private equity professionals where they can share investment research and build their networks.
This site is extremely exclusive and those from the sell-side such as Wall Street banks aren’t allowed, the Journal’s report said.
What’s more is Narendra told the Wall Street Journal that he personally reviews each application and rejects about 75% of them.
So far, SumZero has approximately 7,500 buyside professionals on the site with some members coming from big name funds such as Greenlight, Pershing Square and Weiss Asset Management are members, according to its website.
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