UpDown.com Announces Additional Funding from Swiss Investor

Social Networking Site for Virtual Investing Receives Capital from one of Europe’s Most Successful Internet Entrepreneurs

BOSTON, MA, January 31, 2008 –UpDown.com, the leader in social networking for virtual investing, today announced a $750,000 investment from Swiss angel investor Joachim Schoss. Dubbed by mainstream media outlets as “fantasy football meets the trading floor,” UpDown.com was launched by three Harvard entrepreneurs in September 2007 and currently has nearly 20,000 registered members.  Today’s investment, combined with previous funding, brings the company’s total funding to just under $1.2 million.   

Previously named Switzerland’s “Business Angel of the Year,” Mr. Schoss has a history of founding successful companies, including TellSell Consulting and Telcare, which merged with Sykes Enterprises.  In 2004 his latest company, Scout24, was acquired by T-Online for $221 million and he is currently the cornerstone investor of 6S Capital, a quantitative hedge fund firm.

“Joachim’s investment in UpDown.com reflects a continuing interest from high profile investors who recognize the power of shared virtual investing to enhance real world returns,” said Michael Reich, co-Founder and CEO. “In addition to capital resources, he lends credibility and alternative investment industry experience that will further accelerate the growth of the UpDown.com community.”

UpDown.com is the only free investment platform that allows members to earn money with zero risk of financial loss. In addition to giving members $1,000,000 in virtual money to invest, UpDown.com provides a platform for investors to improve their skills through collaboration, competition and aggregated wisdom.

Members make money in 3 different ways: by having a portfolio outperform the S&P, by writing a high quality and quantity of stock analyses and by referring friends to the site. Top earners on the site have made nearly $2,000 in three months and the site’s founders expect that amount to grow significantly as the membership, and its overall investing performance expands.

The company's ultimate goal is to create a hedge fund that mirrors members' strategies that consistently out-perform the major indices.

For more information, visit http://www.updown.com.

About UpDown.com

UpDown.com is the leading social platform for virtual investing. In addition to giving members $1,000,000 in virtual money to invest, UpDown.com provides a platform for investors to improve their skills through collaboration, competition and aggregated wisdom. Described by major media outlets as “fantasy football meets the trading floor,” UpDown.com is the only free investment platform that allows members to earn money with zero risk of financial loss. Founded by three Harvard entrepreneurs, UpDown.com is a privately held, privately funded company headquartered in Cambridge, Massachusetts. For more information, visit www.updown.com.