Last night i was invited to the private site, TheFunded.com. The site provides entrepreneurs with access to ratings of venture capital companies as well as personal contact information of VCs. While it provides a good opportunity for disgruntled entrepreneurs that have not received funding, I don’t think it provides much of a benefit to anyone else. While the concept is a good one, I don’t think people will use it for its intended purpose.
Since the majority of the postings are posted anonymously, there is practically little value in using the information provided by the site. If you are an entrepreneur looking for funding, use this site to come up with a list of potential VCs to contact, but don’t use it as an end all be all resource for research. I would have rather seen this site as one that allows entrepreneurs to pitch their business plans to VCs and then provides the contact information of the entrepreneur to the interested VC. I think the site brings one-sided transparency. Had they made the transparency equal on both sides, there would have been an incredible amount of value. A social network consisting of investors and entrepreneurs would be amazing. Anyone know of an existing one?