Is venture capital rating service theFunded really shutting down? |
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Is venture capital rating service theFunded really shutting down?
TheFunded.com, a Web site that allows entepreneurs to rate the performance of individual venture capitalists, is apparently shutting down on April 2, according to a message on the Web site. But TechCrunch's Michael Arrington is calling it an April Fool's joke, in part because of the message placed on theFunded's Web site. (Full message below) You be the judge, though I am sure there are more than a few VCs who wouldn't mind if it turns out to be true.
Full text of theFunded's message titled "Conclusion: Investors are Great:"
"On Friday, March 27th, TheFunded, Incorporated ('TheFunded' or 'we' or 'the Company'), in conjunction with counsel has concluded that venture financing and the purchase of preferred equity, herein referred to as 'investing' or 'investment' or 'investors', is both broadly and generally good for companies worldwide.
TheFunded will officially cease reviews on April 2nd, 2009, which, from time to time, reflect negatively on the many innumerable benefits of investors or investment or investing. We encourage companies to consider seriously taking investment, and we apologize for the following statement made in haste:
"investing is predatory", "over 75% of investors are bad", "avoid banned investors."
The Company further apologizes for making any other statements and causing questions to be raised regarding the ethics and the good reputation of investors. Further updates are forthcoming Wednesday, and we encourage every Member to take an investment and then post feedback on the positive and rewarding experiences in Open Letters."
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