Feeds

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

Zuck on that, Mark

Business security measures using SSL

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. ®

Business security measures using SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
ISPs' post-net-neutrality world is built on 'bribes' says Tim Berners-Lee
Father of the worldwide web is extremely peeved over pay-per-packet-type plans
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Google+ GOING, GOING ... ? Newbie Gmailers no longer forced into mandatory ID slurp
Mountain View distances itself from lame 'network thingy'
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
Bonking with Apple has POUNDED mobe operators' wallets
... into submission. Weve squeals, ditches payment plans
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.