We wrote about DCM Capital last month, a new London based broker that had launched the first social analysis trading platform. Using their social media know-how, the people behind DCM Capital have now has put the company up for sell through a public auction. The broker went on sale yesterday for an open bid of £1 but has climbed to a current £10,000.
Announcing the auction DCM stated this on their website “At DCM Capital we do things differently. Twelve months ago we put a team together to build the world’s first social media, investor sentiment analysis trading platform. With a budget of £350k and a team of 6 talented developers we achieved our goal, on time and on budget. Now we move onto our next project, to successfully use social media to publicly auction our company and innovative technology to the highest bidder. We believe this is another world first!” Included in the sale is the firm’s FSA License, IP technology, trading platform, and client list. The firm claims to have a £4.9 million value.
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While they definitely do things differently, one important item to point out is that they have stated “Bids are NON binding”. Therefore, it is quite possible that this is nothing more than a clever marketing stunt by DCM Capital.