Feeds

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

Zuck on that, Mark

Internet Security Threat Report 2014

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
Mighty Blighty broadbanders beg: Let us lay cable in BT's, er, ducts
Complain to Ofcom that telco has 'effective monopoly'
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
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?