Feeds

Winklevoss twins stuff $1m into social network for the FILTHY RICH

Zuck on that, Mark

Intelligent flash storage arrays

Wanna know what the world's been lacking? A social network for hedge-fund bods, of course. And who better to be at the helm of such a brave Web2.0 venture than square-jawed Olympic rowing twins Cameron and Tyler Winklevoss - who rose from the ashes of their legal spat with Facebook CEO Mark Zuckerberg to plunge some of their settlement cash into SumZero.

The brothers have reportedly invested $1m into a pal's social networking site for investors, according to the Wall Street Journal.

Last year, the pair lost a lawsuit filed in a US court that attempted to plump up an earlier $65m settlement with Facebook and its founder Zuckerberg. Since that bruising - surely eased by millions of dollars - the Winklevoss boys have been relatively quiet, apart from a TV ad turn punting salty nuts.

Now they're back with a stack of cash for their long-term biz partner Divya Narendra, who founded SumZero in 2008 and who also attacked Facebook in the same lawsuit with the Winklevoss twins.

Speaking to the WSJ, Tyler said "the band is back together", referring to their latest partnership with Narendra, which operated rival Facebook site ConnectU.

As dramatised by the Hollywood movie The Social Network, Zuck - during his time at Harvard University - agreed in 2003 to complete software code on ConnectU for the three men, only to delay work on that project while developing what was then referred to as "the Facebook".

Today, Facebook's wild growth has led to a global userbase that stands at nearly 1 billion people - even as the company's shares continue to wobble on the NYSE over concerns by admen and the social network's slow response to the gigantic smartphone market.

Four-year-old SumZero claims 7,500 members with applications to join the site personally vetted by Narendra, who apparently rejects about 75 per cent of them. He's clearly hoping, however, to attract more investors to actually use the site, hence the injection of the strapping oarsmen. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
You! AT&T! The only thing 'unlimited' about you is your CHEEK, growl feds
Man, we did everything but knock on their doors - carrier
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
Watch out, Samsung and Apple: Xiaomi's No 3 in smartphones now
From obscurity to selling 19 million mobes a quarter
Brazil greenlights $200m internet cable to Europe in bid to outfox NSA
Only one problem: it won't make the slightest difference. And they know it
Wanna hop carriers with your iPad's Apple SIM? AVOID AT&T
Unless you want your network-swapping tech disabled for good, that is
Knocking Knox: Samsung DENIES vuln claims, says mysterious blogger is a JOKER
But YES, system does store encryption key on the device
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The Heartbleed Bug: how to protect your business with Symantec
What happens when the next Heartbleed (or worse) comes along, and what can you do to weather another chapter in an all-too-familiar string of debilitating attacks?