Social network for professional investors SumZero received $1M from Tyler and Cameron Winklevoss brothers, known for their lawsuit to Facebook co-founder Mark Zuckerberg. One of the founders of this social network is Divya Narendra, a former classmate of Winklevoss and Zuckerberg at Harvard.
Today SumZero has 7500 registered users - they are managers of hedge funds, private equity funds, etc. (the resource designates them as a buy side). And the sell side - so called employees of investment banks - can not register on the social network. According to the newspaper The Wall Street Journal, the interface of SumZero looks somewhat like the original version of Facebook.
SumZero was founded in 2008 by Aalap Mahadevia and Divya Narendra. In 2002 Narendra and Winklevoss brothers decided to create a social network for students HarvardConnection. In November 2003 they hired Mark Zuckerberg giving him the texts with developed software code and explaining the general idea of the project. Zuckerberg avoided meeting with the brothers and created his own social network with his future partner Eduardo Saverin and they launched thefacebook.com in 2004. Learning of this, Winklevoss complained about the theft of intellectual property, and the university administration recommended them to go to court.
The first lawsuit in 2004 to Mark was dismissed for lack of sufficient evidence, but in 2008 the court ordered Zuckerberg to pay Tyler and Cameron $65M in cash and a share in the social network.
Thus, the Winklevoss brothers will work with one of their former colleagues. And they are not just going to be the investors of social network SumZero, but also to participate in its development.