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Another sign that the online, community-driven stock "market" is heating up, even in the face of real stock market uncertainty: virtual investing social network UpDown has just received $750,000 in additional funding from Swiss investor Joachim Schoss. With this lastest round of funding, UpDown has raised just under $1.2 million in total.
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Officially launching last September, UpDown is still very new on the scene. As with most new entrants in a crowding market, UpDown pushes its differentiating factor hard: users can earn money on the site, without putting up any real cash of their own. With $1 million in virtual cash that users start with on UpDown, the group functions along with the trading and analysis functions are very much tied to a competitive spirit with cash rewards.