Thursday, November 02, 2006

FundingUniverse Gets Facelift

Tomorrow morning, will have a new look and a new business model. In my unbiased opinion, there's nothing like it on the web or anywhere else.

Here's what's new on the site (I'll add links to the features when the site is live):
  • Every business plan posted on receives a rating (0-4 stars) based on an algorithmic formula developed by angel investors.
  • Entrepreneurs can purchase their ratings details for a song and find out what they need to do to improve their business plan and thereby receive more views from angel investors.
  • Investors will be able to sort through plans based on rating, industry, amount sought, business model, sales channel, etc. Each time a business plan that fits the investor's criteria is posted on FundingUniverse, an email is sent to the investor (as long as he/she opts in).
  • Entrepreneurs will be able to subscribe to a menu of services including chats with angels, interactive webinars, VideoPitch capability, ratings details, consulting, etc.
  • Registration for both investors and entrepreneurs is still free.
Bottom line:
  • Prepared entrepreneurs will get in front of angel investors and find funding.
  • Unprepared entrepreneurs will have the opportunity to learn and improve their business at an amazingly affordable price.
  • Investors will have increased access to business plans that meet their preferences.
  • More deals get done.
Big shout out to the whole FundingUniverse team for putting together such an amazing service -- especially Matt Bradley, our product development alpha dog, and Trent Miskin, our fearless and sleepless CTO. Nice work, fellas!


Anonymous Jeff Barson said...

Do the entrepreneurs have the ability to screen investors in any way? Example: You're only looking for debt rather than preferred equity or vice versa. Just curious.

8:29 PM  
Blogger Jeff said...

Good question, Jeff. Entrepreneurs don't have that capability yet, although we do encourage them to state their prefefence in their plans. Maybe a feature for version 2.0.1 ...

10:42 PM  

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