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Type Private
Founded 2005
Headquarters New York City
Key people Rikki Tahta, Founder and CEO
Perry Blacher, Founder & Director, Marketing
Simon Veingard, Founder & Director, Operations & Technology
Industry Investment Management
Products Real trade sharing service
Revenue N/A
Employees N/A

Covestor is an online real-trade sharing service to enable self-directed investors to compete with professional fund managers. [1] Launched in June 2007 [2], and founded on the belief that successful investment strategy is not the sole province of money management firms, Covestor enables investors to share real investment decisions, gain recognition and earn fees by helping others [3].

Covestor raised $6.5m in April 2008, in a round led by Union Square Ventures and Spark Capital who were also joined by Amadeus Capital Partners. [4] Other investors include private investors from the financial markets in New York and London and Independent News & Media [5], whose CEO Sir Anthony O'Reilly was formerly a board member of the NYSE. [6] The firm has been widely covered in the press, including The Wall Street Journal [7], Barron's [8], Reuters [9] and Business Week. [10] Covestor has numerous competitors, including, which, in addition to trading of stocks, allows social investing in futures, options, and foreign exchange.


  1. Wall Street & Technology (10-11-07) New Online Investing Site Covestor Presents A Threat to Fund Managers. Retrieved 02-28-08.
  2. Malik, Om. (06-04-07) With Covestor, everyone is a money manager. GigaOm. Retrieved 02-28-08.
  3. Janowski, Davis D. (09-10-07) Advisers find value in new investor-focused websites. InvestmentNews. Retrieved 02-28-08.
  4. Schonfeld, Erik (04-07-08) Social Investing Site Covestor Raises $6.5 Million. Techcrunch. Retrieved 04-11-08.
  5. Covestor website Retrieved 02-28-08.
  6. Independent News & Media plc website. Retrieved 03-03-08.
  7. Kim, Jane J. (06-14-07) A Slew of New Web Sites Are Trying to Attract Young People By Combining Social Networking With Personal Finance. Wall Street Journal. Retrieved 02-28-08.
  8. Carey, Theresa W. (06-26-07) Pick Your Own Online Stock Sherpa. Barron's. Retrieved 02-28-08.
  9. Reuters (07-02-07) Covestor creates stage for virtual money managers. Retrieved 02-28-08.
  10. Bogoslaw, David (11-13-07) Investing: The Net Wisdom of Peers. Business Week. Retrieved 02-28-08.

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