UpDown.com - social platform for virtual investing - gets more funding

September 8, 1:42 PMBusiness ExaminerDarrell Proctor

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If you could go online and invest "money" with no risk, would you? That's the idea behind UpDown.com, a social platform for virtual investing.

The company, launched in September 2007 by by three Harvard entrepreneurs, today announced a $1 million investment from Switzerland-based angel investor Joachim Schoss, bringing its total funding to more than $2.2 million.

UpDown.com has been called “fantasy football meets the trading floor.” The site is a stock market game that gives members $1 million in virtual money to invest - then allows them to interact with other members to "learn the ins and outs of Wall Street."

The sites sponsors contests for virtual traders and awards cash prizes. Members also can earn real money by writing stock analyses and referring friends to the site.