Pulse2 Technology and Social Media News » Amadeus Capital Partners http://pulse2.com Sat, 26 May 2012 21:27:32 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Covestor Surpasses $100 Million In Trades http://pulse2.com/2010/06/17/covestor-surpasses-100-million-in-trades/ http://pulse2.com/2010/06/17/covestor-surpasses-100-million-in-trades/#comments Thu, 17 Jun 2010 21:21:04 +0000 Amit Chowdhry http://pulse2.com/?p=33135 Continue reading →]]>
Covestor has moved about $100 million in trades. Covestor allows users to replicate trades that are done by top investors. Initially Covestor operated under a separate brand and required visitors to commit at least $10,000 to mimic the behavior of 70 specific investors.

Today Covestor has 30 employees across London, Michigan, New York, and San Francisco. Covestor is not cash-flow positive and plans to raise funding later this year. So far Covestor raised $10.6 million from Spark Capital, Amadeus Capital, and Union Square. [VentureBeat]

]]> http://pulse2.com/2010/06/17/covestor-surpasses-100-million-in-trades/feed/ 0 Investment Manager Social Network, Covestor Raises $6.5 Million http://pulse2.com/2008/04/07/investment-manager-social-network-covestor-raises-56/ http://pulse2.com/2008/04/07/investment-manager-social-network-covestor-raises-56/#comments Tue, 08 Apr 2008 03:40:49 +0000 Amit Chowdhry http://pulse2.com/?p=3315 Continue reading →]]> Covestor Logo
“In our first nine months we have demonstrated that there are tens of thousands of self-directed investors out there who are as good, if not better than the pros,” stated Covestor CEO, Rikki Tahta.

Covestor is a social network with a niche that focuses on investment managers. The company announced today that they have raised $6.5 million in investment from Union Square Ventures, Spark Capital, and Amadeus Capital Partners. Todd Dagres of Spark Capital along with Alberg Wenger of Union Square Ventures will be joining the Covestor Board of Directors.

Covestor launched in Beta over this past summer and the social network allows members to share and track stock portfolios.  If a portfolio does well, the owner can charge other members to follow them.  Current members are sharing data across $100 million in securities.  The company will be using the funds to advance the technology behind the site.

Covestor also has a widget that compares real time trades against other indexes such as the S&P 500.  An example of the widget is available on the sidebar of Fred Wilson’s blog, A VC.

Information Source:
[1] CNET: Investor social network pulls in financing of its own by Stefanie Olsen

]]> http://pulse2.com/2008/04/07/investment-manager-social-network-covestor-raises-56/feed/ 0