Tyler and Cameron Winklevoss are part of Facebook legacy.
After a fierce legal battle against Mark Zuckerberg on who was the true creator of Facebook, (as represented in the film ‘The Social Network’), a deal was finally made to the tune of $65 million split between cash and company shares of Facebook Inc.
In February of last year, the duo created ‘Winklevoss Capital’ a capital investment fund focused on early-stage companies. Their first investment was in SumZero which marked the return of the brothers to the world of social networking. Most recently they released another start-up, the Hukkster complex, an online tool that tracks specific products through your favorite online stores and notifies you know when your chosen items go on sale..
The twins spent the last year touring the trendy Café de la Musique in Jurerê International. It’s quite possible that the two have their sites on investing in the Brazilian market.
Hukkster was co-founded by entrepreneurs Erica Bell and Katie Finnegan who joined the Winklevoss for a promising partnership.
JETSS | How did you first hear about Hukkster?
Tyler Winklevoss: We first heard about Hukkster from a childhood friend who met Erica at a wedding. Our friend thought the idea was great and knew we were investing in young startups, so he reached out to us and told us about it.
JETSS | What made you choose this particular project to invest in with so many promising start-ups out there?
Tyler: A couple of reasons stood out to us. First and foremost, the idea was great and it actually worked. Additionally, Katie and Erica really impressed us with the way they thought about their company, the team they were able to assemble and their overall approach to building Hukkster.
JETSS | You first invested in the startup SumZero; and now you’ve decided to invest in Hukkster an e-commerce in its early stages. What is the fascination with startups?
Cameron: There is a tremendous gratification and sense of purpose associated with building a young company into something great. We really enjoy the early stages because they are challenging in and exciting way, we can be involved in almost every aspect of the business, and it is this point in the companies’ life cycle where we feel we can have the most impact.
JETSS | Obviously a start-up will not have a track record, so what components do you look for in deciding to invest?
Cameron: The entrepreneur is critical to our investment decision. You have to have the utmost trust in this person and have to be convinced that they are the correct person to take their company to the next level. A lot of times the right person that creates a company, is not the right person to grow it, and it’s difficult to separate the two. At the same time, the idea has to be practical, there needs to be a viable revenue stream or exit strategy, otherwise you may be just investing in an someone with an idea, not a potential business.
JETSS | Who are the most popular retail stores partnered with Hukkster?
Cameron: Hukkster works on over 400 retailers, overtime we will continue to build more formal relationships with retailers, but for now we just alert shoppers of price drops and coupons that become available.
JETSS | Have you personally purchased an online deal tracked by Hukkster?
Tyler: Yes. I “hukked” 5 pairs of Levis jeans and saved $75USD.
JETSS | Do you intend to expand into non-American companies?
Cameron: Absolutely, and support non US-currencies.
JETSS | What is Winklevoss Capital looking to invest in next?
Tyler: A great company, with great entreprenuers! We are always scanning for new investments and looking in many different sectors. If something catches our eye, then we examine it more.