SumZero
 |
|
| Private | |
| Industry | Financial Technology |
| Founded | 2008 |
| Founders | Divya Narendra, Aalap Mahadevia |
| Headquarters |
Flatiron District, New York City, NY, U.S. |
| Products | SumZero Basic, SumZero Quarterly Top Idea ("QTI"), SumZero Elite, SumZero Buyside |
| Website | SumZero |
SumZero is an investment website for professional investors (collectively referred to as the "buyside"), and buyside professionals are granted membership per an application, where they must be on the research team at a hedge fund, mutual fund, private equity fund, or investment banking proprietary trading desk. Its exclusivity is said to mirror that of Facebook at its outset, and though it currently has over 10,000 buyside members and over 40,000 'Basic' users, roughly 75% of buyside applicants for membership are rejected.
The site's co-founder and current CEO Divya Narendra came up with the idea for SumZero in April 2007, while working for the hedge fund Sowood Capital in Boston. Narendra and college friend Aalap Mahadevia subsequently launched SumZero in March 2008.
In June 2012, Winklevoss Capital made an angel investment of $1.05 million into SumZero.
In October 2012 the site announced its first Annual Investing Challenge, jointly organized by SumZero and the Value Investing Congress. The top 3 ideas were pitched on the CNBC television show Fast Money and winner Ryan Fusaro presented his investment idea at the Value Investing Congress on October 1, 2012 alongside the portfolio managers Bill Ackman, David Einhorn, and Barry Rosentein.
A paper by Wesley Gray of Drexel University, Bryan Johnson of Creighton University, and Rice University’s Steven Crawford and Richard A. Price III, "Do Buy-Side Recommendations Have Investment Value?”, analyzes a subset of SumZero’s Idea database, which is composed of 2,135 long and short calls on U.S. equity securities submitted to the website by 1,112 buyside analysts from 910 different funds.
...
Wikipedia