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With Facebook behind them, Tyler and Cameron Winklevoss invest in a social network for professional investors.

The Winklevii

The notorious Winklevoss twins just gave SumZero, a social networking site for professional investors, a financial boost,according toThe Wall Street Journal.

Tyler and Cameron Winklevoss, the purported "masterminds" of Facebook, have pumped a $1 million investment into the four-year old platform, which happens to be run by fellow Harvard alumni Divya Narendra.

Yes, Narendra is the guy who--with the Winklevoss twins--asked Mark Zuckerberg to work on ConnectU in 2002."The band is back together," Tyler told the outlet.

As for the start-up,SumZeroworks much like Facebook. It requires that its users run hedge funds, mutual funds or private equity firms. Narendra told the Journal that he reviews every application for the site, rejecting about 75% of them. The idea, he said, is to have a platform for investors to exchange ideas and chat about their current investments.

So far, the network reportedly has 7,500 users.

The Winkelvii, who reportedly have $65 million in Facebook settlement money to spend, told the Journal that they plan to be part of the websites daily operations. SumZeros New York office will open next month.

"We want to get involved and really roll up our sleeves," Tyler Winklevoss told the Journal.

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The Winklevoss Twins Try Social Networking One More Time

The brothers who claimed Mark Zuckerberg stole their idea for Facebook have invested $1 million in a social network aimed at investors, The Wall Street Journal reports.

The Winklevoss in a recent TV commercial for pistachios.

The Winklevoss twins, best known for their courtroom battles with Mark Zuckerberg over Facebook, are taking another stab at the social-networking sector.

Tyler and Cameron Winklevoss have made a $1 million investment SumZero, a social network aimed at professional investors, The Wall Street Journal reports. The company was founded in 2008 by former Harvard classmates Aalap Mahadevia and Divya Narendra, the latter of which was a party to the Winklevoss twins' lawsuit that claimed they were misled about Facebook's value.

The case stemmed from a settlement the Winklevosses and Narendra signed with Facebook in 2008 after claiming Zuckerberg stole their idea for a social-networking site they called ConnectU, the basis for the 2010 movie "The Social Network." The trio accepted a $65 million settlement from Facebook and Zuckerberg in exchange for dropping all further litigation against the site but later said the settlement was based on an inaccurate valuation of the company.

They filed suit to undo the pact after it was revealed Microsoft paid $240 million in 2007 to acquire a 1.6 percent share of Facebook, giving social network a $15 billion valuation. The Winklevoss twins and Narendra claimed they were led to believe that Facebook's valuation was about a quarter of that.

The 9th U.S. Circuit Court of Appeals agreed with Facebook and Zuckerberg last year, upholding the 2008 settlement. The trio threatened to take their case to the U.S. Supreme Court but later retreated and dropped their claim.

In February, the twins formed Winklevoss Capital, and their first investment in June was SumZero. The site, which claims about 7,500 members, accepts only investors who work on the "buy side" -- hedge funds, mutual funds, and private-equity firms. Wall Street bank analysts are not allowed.

The site, which says it rejects 75 percent of those who apply, allows users to follow each other's activity and requires members to regularly submit trading ideas to the network. Those who don't lose access to the database, the Journal reported.

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Winklevoss twins get back to social networking with investment

Jonathan Abrams kicked off the social networking revolution with Friendster, the site that introduced many of us to the concept of connecting with friends on the Web. Now, Abrams is getting into the social news aggregation market with his latest online venture, Nuzzel.

Currently in private beta, Nuzzel shows you news stories that your friends have shared on Facebook and Twitter, ranked in order of popularity. There isn't much clutter on the site--beyond the ranked news stories in your personal feed, you can see the feeds of friends who are using the site and a feed capturing stories shared by friends of friends. You can share stories on Nuzzel through Facebook or Twitter, and the site also suggests people you may want to friend or follow on these sites.

I've been trying it out, and I'm liking it so far. It's easy to set up and use, and the amount of content isn't overwhelming. It also includes a handful of useful features like the ability to receive an e-mail alert if more than a certain number of your friends share a particular story.

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Friendster Founder's New Social Startup

Though not specifically named in the study, Pangilinan exemplifies what the more than 1,700 CEOs from 64 countries and 18 industries who were subject of the survey revealed: bosses are opening up, and theres a shift in the top honchos management style.

The study reveals that CEOs are changing the nature of work by adding a powerful dose of openness, transparency and employee empowerment to the command-and-control ethos that has characterized the modern corporation for more than a century, a statement from IBM Philippines said.

The statement cited the study titled CEOs Embrace A More Connected Culture, which showed more companies embracing openness, which the statement defines as often characterized by a greater use of social media as a key enabler of collaboration and innovation.

Openness, it seems, has been adopted as a mantra by companies that, the study noted, outperformed their peers.

CEOs are embracing new models of working that tap into the collective intelligence of an organization and its networks to devise new ideas and solutions for increased profitability and growth, said the statement released on Tuesday to the press.

This shift is seen in the CEOs preference to using social networks more than electronic mail or telephones as primary communication vehicles.

Today only 16 percent of CEOs are using social-business platforms to connect with customers as individuals, but that number is poised to spike to 57 percent within the next three to five years.

The trend of dropping e-mail and the phone as communications tools is even more significant in Asean [Association of Southeast Asian Nations], where the use of social networks is expected to go up to 68 percent from the current 25 percent, as Asean CEOs plan a step-change from traditional to social media while continuing face-to-face engagement.

IBMs research finds that technology is viewed as a powerful tool to recast organizational structures. More than half of CEOs [global: 53 percent, Asean: 53 percent] are planning to use technology to facilitate greater partnering and collaboration with outside organizations.

Internally, too, digital communication tools are being eyed by more than half of CEOs (52 percent for global; 47 percent for Asean) to promote great internal collaboration.

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IBM study shows CEOs ‘liking’ social networking

Thirteen. Thats how old kids are supposed to be when they officially allowed on Facebook. But most parents know its really just a number that doesnt mean anything.

Younger tweens are clamouring to get on the social networking site because their friends and everyone else, including parents already are. And many parents are caving in to the kids demands, even helping them fudge their ages on the site so they can use it.

I think on Facebook my son is nine months younger than me, says Charlie Charalambous, a training specialist who lives in Stouffville. I used his birthday and my year, I think. In terms of the age thing, most parents dont really think about it. A bunch of his friends were already on there, which made him want it, and really, it is how kids communicate now. Well, that and texting.

Charalambous son, Niko, recently turned 13, but has been on Facebook since he was 11. Charalambous is pretty tech savvy, and that has rubbed off on his son. So, for Christmas two years ago, he bought Niko a laptop and, as part of the gift, set up a Facebook account with friends and family, so once Niko got on the site, a community would be awaiting him.

Charalambous says it was also a way to let Niko know he would have access to the account and would be monitoring exactly what he was doing on there.

In June, The Wall Street Journal reported that Facebook is thinking of creating a tool to allow parents and younger children to get online together, perhaps with a co-account. Until something official comes along, most parents are finding their own ways to meet their kids desire to connect online with the need to keep them safe.

Sidney Eve Matrix, a media professor at Queens University who has done work on cyber bullying, says a formal option from Facebook would be good, but cautions parents to remember the companys motivation.

If it enables parents to better monitor (kids), that would probably be great, but Facebooks agenda is not really about fostering community spirit, its advertising. I guess Im a bit concerned about offering brands such easy pickings to that younger target market.

Matrix advises parents to keep the lines of communication open throughout the process of introducing kids to social media.

Thats what Charalambous and his wife did.

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What parents need to know about keeping their tweens safe on social networking sites