Dub, a platform that enables retail traders to replicate the investments of prominent figures in business and government, introduced a new service on Thursday. This service compensates selected everyday investors for sharing their portfolios. Participants in Dub’s top creator program will receive royalties for allowing users to view their model portfolio. The program is part of Dub’s efforts to attract small investors to its platform, which promotes mimicking other traders’ portfolios over traditional stock picking.
Steven Wang, Dub’s founder and CEO, stated, “Fundamentally, we are rethinking the distribution of how capital flows to investing talent.” He sees this as the early stages of a new revolution in retail investing. Since its inception nearly a year ago, Dub has allowed users to track and replicate the investment portfolios of individuals like Federal Reserve Chair Jerome Powell, Rep. Nancy Pelosi, and billionaire hedge fund manager Bill Ackman for a monthly fee of $9.99 or an annual fee of $89.99.
Users can mirror these portfolios using their own funds held in Dub’s broker dealer. The platform automatically updates any changes in the portfolios, ensuring that users who copy them stay informed. The creator program now offers a financial incentive to accepted users, who are paid based on various social metrics. The royalties received are negotiated individually between Dub and each creator.
Dub’s program is launched amidst a surge in retail trading and the influencer economy. Despite the volatility of day trading and meme stocks during the Covid pandemic, data shows continued high net inflows from average traders into popular stocks and funds. The lockdowns also boosted interest in online influencers, contributing to the growth of the digital creator sub-economy.
Dub’s app has been downloaded over 700,000 times, with expectations to reach 1 million by the end of the first quarter. Wang envisions the top creator program and Dub’s platform as a means for exceptional individual traders to gain recognition and wealth. He aims to showcase verified returns of portfolios for users to copy, hoping to discover and promote the next generation of successful fund managers and traders through Dub.
