TLDR:
- Detroit native Steven Wang’s copy-trading platform, dub, completed a $17 million funding round.
- The platform allows everyday investors to replicate portfolios with ease.
The article discusses how 22-year-old Detroit native, Steven Wang’s startup company, dub, recently raised $17 million in funding. The funding round was completed by a group of venture capital firms and individual investors, with early investors including Detroit Venture Partners. Dub allows everyday investors to replicate the portfolios of emerging investment managers, hedge funds, or elected officials with a single tap. The platform’s affiliated broker-dealer, registered with the Securities and Exchange Commission, facilitates copy-trading, a growing investment practice. Wang envisions a future where investors pick people to invest in rather than stocks, leveraging the rise of social media and commission-free investing.
Tusk Venture Partners led the seed round, with investment from notable figures like Nathan Rodland, Dara Khosrowshahi, and Roger Ferguson Jr. Dub aims to translate the benefits of the social-media-driven creator economy to investing, offering individuals access to diverse minds in asset management and bespoke investment strategies. The platform’s app makes it simple for everyday investors to copy portfolios and invest with ease. Wang’s entrepreneurial journey, from starting and selling a VR company at 17 to launching dub, showcases his innovative approach to finance.
Dub’s copy-trading platform has been touted as a new frontier in retail investing, offering a unique product in the market. With support from investors and a $2 million venture debt facility from Silicon Valley Bank, dub is poised for growth and aims to revolutionize the way people invest.
