Tyler and Cameron Winklevoss, best known for their disputed role in the creation of Facebook, are backing another social network, this time for professional investors.
The twins have sunk $1 million into SumZero, a social network created by Divya Narendra in 2008, according to The Wall Street Journal. Narendra allied with the Winklevosses in their fight against Facebook CEO Mark Zuckerberg over the claim that he stole the trio’s idea, which eventually became Facebook. The battle, dramatized in the movie The Social Network, resulted in a $65 million settlement for the Winklevosses, though they have unsuccessfully sought further damages.
SumZero describes itself as “the largest online community for hedge fund, mutual fund and private equity professionals,” and has users from funds including Greenlight, Pershing Square and Weiss Asset Management. The site caters to employees on the “buy side” from mutual funds, hedge funds and private-equity firms. The site bars those from the “sell side” such as Wall Street banks.
The twins, who have since starred in a Wonderful Pistachios ad that poked fun at their image, told the WSJ that they are back in the game. “The band is back together,” Tyler Winklevoss told the publication. The news comes after the pair announced the creation of a venture capital firm back in April.
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