Here’s how the game is played: Stock Battle is an online financial gaming platform for stock market trading competitions with cash prizes in every competition. You manage a portfolio of virtual money, trade virtual stocks on the stock market, and compete against friends to win cash prizes. The concept is similar to daily fantasy sports, but for the stock market.
Cofounder William Lowden stumbled on the idea after noticing how many people in their early twenties aren’t active in the stock market because of capital requirements. From his own experience, he found maintaining a mock portfolio interesting and educating, but he never truly felt rewarded for any of his good stock picks.
William consulted his brother, Lee, who fell in love with the concept, and they both decided to build the company together. Stock Battle journey together. The brothers hope you find Stock Battle rewarding, educating, fun, and, most of all, hope it ignites your passion for the stock market.
Cofounder and CEO Lee Lowden fills us in on the grand plan.
Tell us about the service.
Stock Battle is a fantasy stock market trading competition platform offering players the ability to experience the thrills of real-time stock market trading, while minimizing risk. Stock Battle offers fast-paced competitive stock market trading tournaments with real money prizes in every competition. All of Stock Battle’s tournaments are pay-to-play, meaning that a player enters a competition with an entry fee and competes for cash prizes. You trade virtual stocks on the stock market and compete against your friends to win cash prizes. All of Stock Battle’s stock market data is real-time, simulating a true stock market trading experience.
How is it different?
Our platform is changing the way in which people are getting interested and involved in finance and the stock market. We are adding the pay-to-play, real money gaming concept of fantasy sports, to finance.
What market are you attacking and how big is it?
We are directly attacking the real-money gaming industry by bringing our fantasy gaming concept to the financial markets. Similar industries such as fantasy sports have proved to be a multi-billion dollar industry. We see a major growth potential in financial gaming and believe that this industry will be as large as fantasy sports.
What is the business model?
Our business model is very simple. We take a small percentage of the total prize pool that is paid out to players in every competition.
Are we going to get a January effect in 2015?
There is really no way of knowing if there will be a prompt sell off in late December from all of the capital gains off setters. From a historical view, I would say yes.
Will the market close higher at the end of 2015 than at the beginning of the year?
If I could predict this, I would be running a hedge fund.
What are the milestones that you plan to achieve within six months?
In the next six months, we would like to hire a few employees, further develop our platform (such as adding social media), and exponentially increase our user base. We would really like to grow the size of our competitions, in regards to the number of entries and the total prize pools. Larger dollar value prize pools attract more users.
If you could be put in touch with one investor in the New York community who would it be and why?
If I could be put in touch with one investor in the New York community, I would be put in touch with Fred Wilson from Union Square Ventures. He seems extremely smart and he is, of course, very well connected. I would love to have a conversation with him about the industry that we are creating and ask for a few of his opinions on strategic related views. I read his daily diary: www.avc.com
Why did you launch in the New York area?
We launched in the New York area because my brother and I are originally from Connecticut, 30 minutes outside of New York City. New York City is the best city in the world. There is an amazing amount of talent and a large network of connections in this area.
What’s your favorite local bar?
My favorite local bar is “Hair of the Dog” in the Lower East Side.