San Jose, CA (PRWEB) March 7, 2006
Inkling has correctly forecast the outcomes of three Academy Awards, the popular TV series The Bachelor, and a major product release by Apple Computer with its new prediction market software.
Inkling's system uses virtual stock markets to predict the future, allowing anyone with web access to create a free account and express their opinion on future events by buying or selling shares in potential outcomes. When trading closes, the highest-priced outcomes are deemed the most likely. Since its launch in February, the imaginary-currency marketplace has garnered an impressive 71% accuracy rating for predicting future events.
"Companies like Google and Hewlett-Packard value prediction markets in decision making for their ability to separate hard information from rumors and office politics," says Adam Siegel, Inkling's CEO. "We're excited about bringing the power and accuracy of this technology to everyone, not just academics and big companies."
In addition to serving corporate clients like consumer goods producers, think tanks and publishers, Inkling plans to allow anyone to set up custom markets at their website and tap into the wisdom of the world.
Inkling is a new software company that makes it easy for anyone to use and understand prediction markets. The company is the latest startup to receive funding from Y Combinator, the venture fund backed by web technology pioneer Paul Graham. Its home page is http://www.inklingmarkets.com.
Jim Richmond, +1 (408) 961-9433