Industry Investment management Headquarters Los Altos Type of business Private | Website www.piqqem.com Founded 2008 | |
Key people Jett Winter, Founder and CEO Services Rich Internet Application, Investment Tools | ||
Piqqem is an online stock selection service using a method of selection based on the Wisdom of Crowds. It was launched in the fall of 2008 with angel funding from early-stage Apple investor Mike Markkula (the first investor in Apple) and Tellme Networks founder Mike McCue. Piqqem encourages users to make predictions on stock prices with simple graphical icons or using online graphing charts. Piqqem then uses a proprietary algorithm to aggregate the expressed sentiments in graphical and symbolic form and compile those aggregate sentiments to provide predictions on share price movement based on the collective "crowd opinion." Piqqem is similar to current prediction markets like those found on Betfair (sports betting) and the Hollywood Stock Exchange (movie box office returns). Piqqem's competitors include Covestor, Cake Financial, and the Motley Fool, among others. Critics of Piqqem's approach assert that the stock market already reflects the wisdom of crowds in its pricing methodology. The company is located in the Silicon Valley town of Los Altos in Northern California near San Francisco.