It was recently announced that the Invest.com domain has been sold for a record breaking $5 million to Israeli super angel investor Singulariteam, in a move spearheaded by Managing Partner and Chairman Moshe Hogeg.
Tel Aviv based Venture Capital fund Singulariteam recently purchased the domain Invest.com for a record breaking $5+ million, in a move that is rumored to have been spearheaded by Managing Partner and Chairman of Singulariteam, Moshe Hogeg.
Hogeg is known for having invested $2 million in the messaging app Yo! and is also the founder of Mobli, a visual media platform currently boasting over 22 million users, that allows people to share photos and videos in real time. As one of the most effectual entrepreneurs in Israel, Hogeg is known for influencing social network-oriented startups. Forex is not the traditional investment niche for Hogeg or his VC fund, so this move was bound to catch everyone’s attention.
The Invest.com site still says, “coming soon” on it, but who will be unveiling the new site is finally no longer a secret. Sources close to the matter told Forex Magnates that Singulariteam’s move to purchase the domain is part of an effort to penetrate the forex industry with an all assets brokerage site.
Forex and Stox
Singulariteam, which was founded in 2012 by Hogeg and Kenges Rakishev, is described as being a super angel investor and traditionally invests in advanced, new and disruptive technologies with a major focus on Israeli tech and startups.
The purchase of Invest.com is not the only financial market project that Singulariteam has embarked on recently, though. They are also behind a new venture called Stox, which helps with understanding returns on investments by providing financial data to brokers, consumers, and even public companies. Stox takes a departure from traditional forex companies, exclusively dealing in the trading of real stocks and in CFDs. The service is still in beta and only available to a limited number of users but has been quite successful thus far, having even been referred to as “the next big thing in retail trading.”
It will certainly be interesting to see what types of disruptions Singulariteam is planning to create with their entrance into the Forex world, and whether Hogeg will continue to penetrate further into this niche—breaking away even more from the social network-oriented ventures—or satisfy himself with keeping just one foot in the door.