Hubdub
Encyclopedia
Hubdub was a web-based prediction market
in which players used virtual money to trade predictions on future events. Over time users built up a portfolio of live predictions across their chosen categories of interest such as politics, sport, entertainment, technology or other categories. Each player's performance was tracked allowing them to compete on leader boards which demonstrate their knowledge and expertise in their chosen category.
On January 14, 2009, the company announced that it had taken on board venture capital
funding of $1.2m from Pentech Ventures although there was still considerable speculation around what commercial model the company will pursue going forward.
, Henry Blodget
's Silicon Alley Insider, Pat Buchanan
and Perez Hilton
. Every time the pundit made a public prediction it was logged using a shadow account on the Hubdub prediction. The performance of each of the pundit's predictions was then tracked over time and the pundit's overall accuracy derived. Commentators such as the Wall Street Journal described the concept of PunditWatch as good but the execution flawed.
Prediction market
Prediction markets are speculative markets created for the purpose of making predictions...
in which players used virtual money to trade predictions on future events. Over time users built up a portfolio of live predictions across their chosen categories of interest such as politics, sport, entertainment, technology or other categories. Each player's performance was tracked allowing them to compete on leader boards which demonstrate their knowledge and expertise in their chosen category.
Background
Hubdub launched at the DEMO 08 technology conference on January, 28th 2008. Politics and sports tend to be the most active categories followed by technology and entertainment. Hubdub had a largely U.S. audience base which was evidenced by its mainly U.S. news content.On January 14, 2009, the company announced that it had taken on board venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
funding of $1.2m from Pentech Ventures although there was still considerable speculation around what commercial model the company will pursue going forward.
PunditWatch
On June 4, 2008, Hubdub launched PunditWatch which was a feature which tracks major pundits from technology, politics and entertainment. Pundits included TechCrunchTechCrunch
TechCrunch is a web publication that offers technology news and analysis, as well as profiling of startup companies, products, and websites. It was founded by Michael Arrington in 2005, and was first published on June 11, 2005....
, Henry Blodget
Henry Blodget
Henry Blodget is an American former equity research analyst, currently banned from the securities industry, who was senior Internet analyst for CIBC Oppenheimer during the dot-com bubble and the head of the global Internet research team at Merrill Lynch...
's Silicon Alley Insider, Pat Buchanan
Pat Buchanan
Patrick Joseph "Pat" Buchanan is an American paleoconservative political commentator, author, syndicated columnist, politician and broadcaster. Buchanan was a senior adviser to American Presidents Richard Nixon, Gerald Ford, and Ronald Reagan, and was an original host on CNN's Crossfire. He sought...
and Perez Hilton
Perez Hilton
Mario Armando Lavandeira, Jr. , better known as Perez Hilton , is an American blogger and television personality. His blog, Perezhilton.com , is known for posts covering gossip items about celebrities...
. Every time the pundit made a public prediction it was logged using a shadow account on the Hubdub prediction. The performance of each of the pundit's predictions was then tracked over time and the pundit's overall accuracy derived. Commentators such as the Wall Street Journal described the concept of PunditWatch as good but the execution flawed.