MarketHero: Indian stock market investing goes social

mhero1.pngMarketHero is a new startup, currently in alpha, hoping to bridge the gap between the Indian stock market and Web 2.0.

Here’s how it works:

On signing up, each user gets Rs. 10 lakhs in virtual currency. You can buy - sell stocks traded on BSE and build a virtual portfolio. The ask - bid prices are actual, delayed quotes from the Bombay Stock Exchange. The idea is to understand market movements and share knowledge amongst the community.

Of course, ones with the most successful portfolios get bragging rights and listed on the ‘Hero Meter’.

Other social features are planned, which would make it a true social investing site like Covestor, StockPickr et al.

I do have one suggestion for the MarketHero team - stop branding yourself as a ‘Online Indian Stock Game’ if your goal is to evolve into a social investment site (or something bigger).

Its great to see some innovation is this space finally - its about time we disposed off the crappy Moneycontrol. Bollywood, cricket and Share market - these are the three things that have wide, mass appeal in India. The former two already have hordes of players while the latter is still waiting to be conquered.

Here’re some additional recent initiatives in the stock market games market:

  • Zapak launches “Game for Money” , a Sensex based game (via CS)
  • Economic Times plans stock market based game

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This entry was written by pranav and posted on March 14, 2008 at 10:52 am and filed under India Web 2.0, reviews. Post a comment

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8 Comments so far (Add 1 more)

  1. Pranav, Out of curiosity, which sites do you frequent for Bollywood? I haven’t come across any that i can open without raising eyebrows at workplace or one that has the depth of imdb.com

    1. Vivek Puri on March 14th, 2008 at 2:22 pm

  2. Hi Pranav,

    I completely agree with your suggestion to MarketGuru. They must be clear in their heads where they want to take this site. Its actually a good time to enter the market with this kind of concept as no one else is anywhere close to this.

    have u heard of http://www.paisawaisa.com?? Dont know much about the concept but it has something to do with finance.

    Excellent color combinations they have used…I must say..

    2. Sanjiv on March 14th, 2008 at 4:07 pm

  3. Moneycontrol has site MoneyBhai.com on the same concept, so it has a huge competitor.

    - VK
    http://www.marktetbuzz.in

    3. VK on March 14th, 2008 at 4:41 pm

  4. copy of moneybhai which moneycontrol.com rolled out 2 yrs back….so may not really be a new kid on the bloc

    4. sachin on March 15th, 2008 at 2:21 am

  5. @vivek - I dont frequently visit any b’wood sites. but the ones i visit occasionally are indiafm, buzz18, rediff etc.

    @sanjiv - paisawaisa seems to be targetted towards personal finance..a bit different from what markethero folks are aiming for

    @VK, sachin - moneybhai has been around for some time — but they havent innovated much. it’ll be interesting to see how markethero folks set themselves apart from them.

    5. pranav on March 15th, 2008 at 4:27 pm

  6. social network around indian stock market sure has loads of potential. it will also help educate ppl who are new to buying and selling stocks

    7. dhingana on March 28th, 2008 at 4:56 pm

  7. I happen to agree with Sanjiv… MarketGur’s concept is unique.. it’s the only rela tool for investors (!!) to actually make good investing decisions.. I agree the timing is right as well.

    8. Scott on April 17th, 2008 at 8:42 am

  8. I agree with you pranav point is how much do they innovate. Social networking can give a new dimension to trading.

    checkout other virtual trading sites:

    khelostocks.com (has been arround for more than a year but not much publicity)

    tradecracker (paid site started by ex-director of IIMA and is laso part of curriculam there)

    9. sameer on April 25th, 2008 at 7:17 pm

One Trackback

  1. By B.E.T.A. Daily on March 16, 2008 at 8:30 am

    Indian Stock Market Game MarketHero.in launched…

    MarketHero is a social investing game which has been recently launched as reported by
    Startup Dunia. Right now the registration is through invitation only and as per their blog, they are adding new users slowly (actually very slow i.e. only 5 users …

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