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June 10, 2009

The Social Network Market Ever Expanding, Meet SocialPicks, the Social Network for People in the Financial and Business World

Filed under: Start-up Companies Reviews — admin @ 9:18 am

It seems like the social network market never ceases to grow in both the financial value, but the spread of subjects as well. Lately the social network market has been filled with social networks that cover media and pop culture, travel, and now business. SocialPicks is the social network for those people who follow the stock market and other business news. The website is currently undergoing public beta testing and it is being sponsored by some of the leading media names covering the business news, including Tech Crunch, the Wall Street Journal, the Washington Post, CNBC, and others.

What does SocialPicks offer? Well, social picks offers a service where individuals who follow the stock market can blog each other and discuss all aspects of the stock market, what companies are doing well or not so well, which stocks are good, and so on. To fully participate in the service that SocialPicks has to offer, you need to sign up and create your own account with SocialPicks, and it is free.

Toward the top of the page, you will see a set of tabs. First, is the Home tab, which will take you to SocialPicks homepage. The next tab is the Picks tab. This tab will link you to all the picks that SocialPicks has to offer with all kinds of stock market information. Along with the picks blogs, you can write your own comment for what ever picks that interest you.

The third tab is the Investor tab, which provides you with portfolios of all stocks that are available for investments. You can choose all portfolios, which will show all the portfolios that are registered with SocialPicks website, you can also choose low risk portfolios, which are portfolios of stocks that do not have a high risk and your investments in these stocks are less likely to be lost, yet returns will not be as high either. You can also choose the Medium Risk link, which will show portfolios about companies that show a higher risk and can also provide higher returns. Finally, you can also click on the High Risk link, which will show companies that are the highest risks. This tab can allow investors to make good decisions on what stocks to invest in.

The fourth tab is the Group tab, which is a tab that shows financial groups and as you click on this tab, you will find a whole list of groups and the number of their members. In this tab, you can click on the individual groups that are listed on the group tab. When you click on the links of these different groups, you can find an in depth detailed information about that group and what they discuss. You can discuss about different companies, which ones are bullish or which ones are bearish.

The fifth tab is the Discuss! tab. This tab allows users to have discussions about various events going on in the business world, what company’s stocks are good for investing in, etc.

The sixth and the last tab is the Research tab, which allows you to do research on the different stocks and companies. On this tab, you can find graphs and videos of various companies, how they are faring in their earnings, how their stocks are doing in the stock market, and you can also see how the different markets and stock exchanges are doing. You can aas well get updated currency exchange rates of all the major traded currencies, the US Dollar, the Euro, the Chinese Yuan, and the Japanese Yen. The research tab also shows how various industries are doing. This is all the information any savvy businessman needs to know when planning to invest. On the right hand side of the research tab, below the videos, you have links to updated information about various companies and how they are faring in the market.

SocialPicks is a privately owned company that is based in Palo Alto, California and was founded in 2006. The company’s management team has two people, Weiting Liu, cofounder and Keven Lin, CTO.

In December of 2007, SocialPicks received funding of $500,000 in series A funding from Bay Partners. Bay Partners was founded in 1976 and has since then worked with entrepreneurs who are striving to start their companies and turn them into profitable corporations. Bay Partners mainly invests in new and growing companies that are in the IT and healthcare industries. Some of the companies in Bay Partners’ portfolio include Advanced Power, Envia, OncoMed, DynaTrace, Interact 911, LiveMedia, Likew.com, and others.

SocialPicks does have a few competitors. The two major competitors are Cake Financial and Investor Avenue.

Like SocialPicks, Cake Financial is also a financial social network, which provides much of the same services as does SocialPicks. Cake Financial is a social network that also is aimed at those who are saving up for retirement and have their money in 401k packages. Cake Financial is based in San Francisco and is a privately owned corporation. Cake Financial has four people on its management team and eight people on its board of directors.

Colorodo based Investor Avenue is an online social network for those who invest in the stock markets. This network is for entrepreneurs, investors, and other people in the business community. The company was founded in 2007 and is privately owned. One person sits on Investor Avenue’s management team, Kelly Burton, who is also the company founder.

For more information about SocialPicks, click here.

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