UpDown investment community pays members to trade, Users invest a simulated portfolio starting with $1 million and are paid based on their ability to consistently out-perform the S&P 500.

Michael Reich UpDown co-founder goa is to build up a group of users who consistently out-perform the major indices and then create an investment vehicle that mimics the behavior of those users.

UpDown has ten thousand registered users, with about a thousand new users signing up every week. One of the main problem for now on our point of view is that the demographics aren’t clear. According to Michael Reich, UpDown users are mainly students.

UpDown is currently in talks to close an angel round of $500k and will most likely be looking for a further $2 million in the summer.