There was an article in yesterday’s Wall Street Journal on a web service The Funded.com which provides member comments on entrepreneur experiences with the Venture Capital and Angel investment communities. Apparently, a few firms, or more specifically individuals mentioned, are taking this seriously when someone provides a less than positive review.
An entrepreneur might want to go there and search to find out the 411 on an investor they are scheduled to visit or as they decide their strategy to on who to approach. For each member review, there is a scorecard in the upper right corner with the number of members who agree or disagree with the review.
I keep using the term member since you have to join to post and membership comes at a cost of $250 a year and you have to be a CEO or Founder and can not be a member on the investment community.
How much impact can an article in the Journal mean to a business? Well the article mentioned that the current membership is 1,500 but the site “News” mentioned that they received 500 new applications yesterday. That’s a $125,000 day for an Internet business. Not bad, if only I could get the Journal to …