Winklevoss twins return to the fold with $1m social network investment

The Winklevoss twins are attempting to redefine their closely-linked careers in terms of entrepreneurial success as opposed to grievances with Facebook, with the Wall Street Journal reporting that the lookalike duo has made a $1 million investment in specialist social network SumZero.

Aimed at professional investors on the "buy-side" of the market, SumZero was founded by the twins' Harvard classmate Divya Narendra, along with fellow Crimson Tide alum Aalap Mahadevia, in 2008, after a dispute with a certain former classmate named Mark Zuckberberg appeared to have been resolved.

"The band is back together," said Tyler Winklevoss with regards to the rekindled partnership with Narendra, according to the Journal.

Narendra backed the brothers in their dispute with Zuckerberg. The trio - who came into the public eye fully with 2010 film drama The Social Network - accused the Facebook 'founder' of stealing the social networking idea they hatched collectively in a dorm room of the elite Massachusetts university.

At the time, the three accepted a $65 million (£40m) settlement from Facebook and Narendra turned his attention to incubating a new blueprint. But the Winklevosses remained embroiled with Zuckerberg and his empire until 2011, trying to undo the original agreement by claiming it was based on a false valuation of the company that only amounted to a quarter of the social network's true worth.

Evidence was cited by way of a 2007 deal between Facebook and Microsoft, with the Redmondians thought to have paid some $240 million (£147m) in 2007 for just a 1.6 per cent share of Facebook – giving the popular social website a total value of $15 billion (£9.25bn).

A US appeals court failed to agree, however, upholding the 2008 settlement and leading the erstwhile Olympic rowers to finally progress their business interests beyond the courtroom and form Winklevoss Capital. At the time of the venture's formation, the twins cited cloud computing as a particular area of interest, but they reverted to their social networking roots almost immediately, making SumZero their first investment.

Claiming a mere 7,500 members, the site features paid membership and is built around principles of exclusivity, saying it rejects 75 per cent of all applicants. Only investors who work in hedge funds, mutual funds, or for private-equity firms are considered, with bank analysts and other Wall Street types on the "sell side" not allowed.