Cheddar buys stock picking game StockStream
The fledgling business news network Cheddar has acquired the stock picking game StockStream for an undisclosed amount.
Joe Ciolli of Business Insider reports, “The concept of StockStream is a novel one, crowd-sourcing investment decisions from users who vote on which stocks should be bought and sold. Roberts, who fronted $50,000 of his own money to kickstart the operation, has programmed the game to make a trade every five minutes based on voting results.
“Now Roberts will be doing so as an employee of Cheddar, which acquired StockStream for an undisclosed amount. He’ll expand the game’s offerings and work on other projects down the line.
“For starters, Cheddar will double the original account balance to $100,000 and expand the asset classes available for investment, such as commodities. The live stream of Roberts’ game will also be incorporated into Cheddar.”
Read more here.