Dub, a fintech startup, is making waves by allowing users to follow and copy the trades of top investors. Founded by 23-year-old Steven Wang, a Harvard drop-out with a passion for investing since second grade, Dub is reshaping how individuals approach investment. After working closely with FINRA and the SEC for over two years to ensure compliance with financial regulations, Dub has launched a platform that educates and empowers its users. While its average user is aged between 30 and 35, it is also attracting a younger audience eager to learn and invest.
Dub has surpassed 800,000 downloads and raised $17 million in seed funding, testament to the confidence investors have in its innovative model. Unlike many other fintech startups that emphasize individual trade decisions, Dub focuses on picking people rather than stocks. This unique approach has helped attract a diverse user base, all while generating revenue through a $10-per-month subscription model and taking a 25% cut of management fees from top portfolios on the platform.
Wang's vision for Dub is clear: the future of investing lies in selecting the right people to follow. This belief is inspired by the success of actively managed hedge funds like Citadel.
“If you look at what the ultra wealthy can do, they’re giving their money to Ken Griffin of Citadel, [because] they’re consistently putting up non-correlated returns year after year after year,” – Wang
Dub's model is designed to educate users and not just encourage blind speculation. The platform provides guidance and incentivizes creators who are skilled traders to share their expertise.
“Creators who are good traders on the app are incentivized to bring their audience,” – Wang
In an era where many fintech startups face regulatory challenges, Dub aims to avoid such pitfalls. Wang emphasizes that the company not only navigated regulation but embraced it.
“We didn’t just navigate regulation at Dub — we embraced it,” – Wang
This commitment to regulation sets Dub apart from platforms like Robinhood, which faced scrutiny ahead of its IPO. Wang respects Robinhood’s achievement in making trading accessible but criticizes the lack of expert guidance.
“I have a lot of respect for what [CEO] Vlad [Tenev] has done in making trading free. But at the end of the day, making it super easy to trade without expert guidance, without education, is really just gambling for the broader population.” – Wang
Dub's advertising strategy is aggressive, particularly on Meta platforms such as Instagram, helping it reach a broader audience. Wang believes that many traditional investment narratives are shaped by passive investing index companies.
“I bet a lot of those are sponsored by the passive investing index companies,” – Wang
He posits that platforms like Dub offer a safer alternative for investors compared to more traditional options.
“I think it’s safer for investors than Robinhood.” – Wang
Dub's success has been fueled by the broader belief among Americans that others may have an edge in the investing world.
“We’ve been really lucky where I think the broader American population really believes there are other people out there that have an edge over them when it comes to the investing world,” – Wang
Wang also highlights the real-world success stories emerging from Dub, citing notable figures and their performance on the platform.
“Nancy Pelosi is up 123% on Dub with real capital,” – Wang
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