UpDown.com raises $750,000 more for fantasy investment social network

UpDown.com, a company based in Cambridge, Mass. that lets people pretend to invest, and network socially, said it received $750,000 in additional funding from Swiss investor Joachim Schoss.

This brings its total funding to just under $1.2 million.

The company launched in September 2007 and says it has 17,502 registered members

The site gives members $1,000,000 in virtual money to invest, and says it improves peoples’ investment skills through collaboration, competition and aggregated wisdom.

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Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.

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