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ProTrade, a San Mateo start-up that just raised $10 million, lets you stock in athletes.
Alarm:Clock has a good summary of the company:
If you are not familiar with it, the company has developed a stock market for athletes. Teams are known as investment portfolios and the real-life athletes get their own ticker symbols. Manning’s symbol is PMANN. Traders will be allowed to create their own competitive leagues and set their own entry fees, with a $5 minimum per entrant.
…Granted, Protrade is nothing new. Its the same idea as the Hollywood Stock Exchange. But still, we like their style…
Click on this profile to enlarge to see Peyton Manning’s “stock.”
3 Comments
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will said:
Wonder why KP partners invested but the fund itself did not. . .
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Matt Marshall said:
Re why KP fund isn’t investing, it seems Kevin Compton and Doug Mackenzie are much less active in new investments for KP these days, and are doing more on their own through Radar Ventures. Just an arrangement they’ve made…
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GC said:
I’m not really sure I understand this. If I buy stock of a company, I own a portion of the corporation. That entitles me to vote, get dividends, etc. What do I /own/ if I buy PMANN? Does he give me a percentage of his salary? I think not.
