MeARKET (pronounced “meerkat”) is an undercover financial start-up that converges social media with investing.
Essentially, you can play the stock market with friends.
MeARKET has invented investment crowdsourcing, turning the stock market into a multiplayer experience that fosters collective, knowledgeable investments.
They want to allow users to combine their efforts and make the most out of their investments – by knowing when your friends are transacting and why, you are able to make sure you move early and efficiently.
Sounds good, right? The hardcores market manipulators can combine forces and get richer.
But what about those who have little or nothing to share? What about the average dude that sees value in investing, but has been too intimidated and too unequipped to take the leap?
MeARKET helps beginners make better investment decisions by helping them tap their social networks for the financially savvy. Odds are that others in their network are dialed in with company knowledge that they could use when making their first purchases.
Social investing allows normal people to engage with the pros, watch how they interact with the market, and glean some of their wisdom.
That average dude is me.
Stop. I know what you’re thinking. How can this clown review an investment webapp when he has no experience?
Well, let me tell you my story…
As a young professional (early 20’s), I am toeing the waters of a new career, tight finances and, last but not least, a love life.
I had plans for engagement (and a $3000 ring) but only $800 to my name. I needed something with an unbelievable ROI, and a magic wand.
Enter, social media.
When you spend 8 hours a day playing on Facebook and Twitter, you “stumble” upon some interesting people. A couple of these happened to be investors. I saw opportunity and engaged, watching them get richer and richer.
Enter, stock market.
I listened to advice, took it all in, saw opportunity and – 2 months later – I took the leap. With the measly $800, I bought a handful of shares and went to work. Three months later, I bought that ring.
I never read a single investment book. I never took a single college course.
Social Media was the magic wand I needed. My social network crowdsourced all the knowledge I needed. Risky, yes. Stupid, definitely. But I bought that ring, and I learned a heck of a lot along the way.
Now, what does this have to do with MeARKET, exactly? While my story ends before MeARKET’s begins, the idea is the same. Social media + stock market = crowdsourced wealth and collaboration (MeARKET)
MeARKET’s sociability allows you to join forces with the pros. When you sign up, you enter the stocks that you own (…or wish you owned. They say that practicing with fake money is the best way to learn). Then connect with your friends on the social network of your choice. Look at their portfolios, and watch their buying and selling habits. Track industries, and create a watch-list of intriguing companies. And, most importantly, participate in the conversation.
And boom, you’re in the game.
Social Investing sets the stage for the emergence of the timid average investors who want to play around with their own money. And it allows the pros to reach new levels they never thought possible. Iron sharpens iron.
Some are concerned about the privacy issues associated with the public display of a personal portfolio. But, for the sake of collaboration, I hope they get over it.
Article by: Micah Whitehead, Imagineer || [email protected]