Adeo Ressi's TheFunded.com is like Digg for venture capital firms: it lets entrepreneurs anonymously rank, review and post comments about them. Now a year old, TheFunded has become one of the
most talked about sites in Silicon Valley for putting VCs under the increased scrutiny of those looking for funding.
"They stole as much information as they could about my business,"
reads one recent post. "It was a very unfriendly atmosphere," reads another.
But what drove Ressi to dig at VC firms? A bad experience or two, perhaps? Ressi argues that "airing the venture
industry's dirty laundry," will improve venture market efficiencies and relations between financiers and entrepreneurs. Of course, TheFunded has also infuriated many, who say the site unfairly
encourages defamatory remarks by letting entrepreneurs hide behind a cloak of anonymity. Ressi next addition to the site lets entrepreneurs post information contained in documents signed with
confidentiality agreements.
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