JPMorgan Chase Starting New Fund To Invest In Social Networking Companies

Monday, February 14, 2011 07:51
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JPMorgan Chase Starting New Fund To Invest In Social Networking Companies

Tags: Social Media | stocks

A Wall Street firm with a pedigree dating back two centuries is plunging into the latest trend. JPMorgan Chase plans to start a new fund that will focus on social media and other new-wave Internet firms.

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JPMorgan Chase is raising money from wealthy investors to invest in privately held social media companies such as Twitter and Groupon, to get in on the ground floor before the companies go public.


It’s hard to imagine a clearer sign that social media companies represent a solid business model that should generate growth for investors.
 

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