126:. The site was initially intended for Ressi's personal use. Due to negative experiences with venture capital firms in the previous year, he wanted to keep closer tabs on his investors. He was also going to allow his close CEO friends to provide their own feedback. In total, the site had about a dozen users for the first three months. In March 2007, however, information about the site had leaked to
24:
169:
business growth. The rating system is based on a scale from 1 to 5, with 5 being the best. Users can then leave comments to explain their rating. The "Banned VCs" feature on TheFunded prohibits venture capital firms from appearing on the site's "Leaderboard," which identifies the most highly-rated firms and investors.
172:
Gaining membership to the site was initially an "invite-only" proposition. Now, users can "apply" for membership. TheFunded only permits certain qualified individuals to join in order to reduce vandalism. The site earns money from both advertising and subscriptions. Subscriptions to the site provide
168:
TheFunded allows users (typically entrepreneurs and CEOs) to rate and review venture capitalists and engage in community activities and discussions. All actions on the website are carried out anonymously. The site maintains an "Advice" section where entrepreneurs can formulate and discuss plans for
133:
The goal of TheFunded was always to provide more transparency in how venture capitalists dealt with clients. The nature of the site's ratings and reviews, however, has been described as candid, scathing, and even nasty. In the early days of TheFunded, Ressi adopted the pseudonym "Ted" to avoid the
159:
In 2009, TheFunded unveiled a list of "blacklisted" venture capital firms. Inclusion on the list meant that these firms were suspected of pressuring clients to give positive reviews, threatening legal action against TheFunded or its members, or failing to make new investments. Users were urged to
138:. The identity of "Ted" was a frequent source of speculation among venture capitalists and entrepreneurs. Because Ressi had heard rumors about his identity being revealed, he decided to reveal his identity on his own terms in a piece in
114:. In addition to providing ratings and reviews, users can communicate with one another to garner entrepreneurial insight and advice. In 2011, the site had over 16,000 users, more than 25,000 reviews, and over 24,000 user comments.
160:
avoid doing business with these firms. By 2011, the site had over 16,000 users, more than 25,000 reviews, and over 24,000 user comments. This was despite the fact that the site had seen a marked downturn in user traffic.
151:
lawsuits from venture capital firms in 2008 and beyond. Some estimates suggest that TheFunded received angry letters from lawyers at least twice per week. The lawsuits were almost universally dismissed because the
130:, and TheFunded received numerous applications to join. Ressi allowed about 100 new users to sign up, but the user base grew to 1,000 by May. In January 2008, the site had 4,600 users.
190:
156:
stipulated that TheFunded could not be held liable for third-party comments on their website. Additionally, the users leaving the comments remained completely anonymous.
218:
379:
482:
410:
325:
294:
153:
262:
34:
438:
257:
122:
Adeo Ressi began working on TheFunded in
December 2006 and unveiled an early version of the site on
299:
353:
191:"This Entrepreneur Publicly Spanked America's Most Arrogant VCs... And Lived To Tell The Tale"
123:
330:
140:
108:
104:
23:
135:
476:
54:
219:"One of venture capital's harshest critics — Adeo Ressi — is launching a VC firm"
443:
415:
384:
223:
100:
44:
148:
127:
111:
72:
326:"The Man Behind the VC Slagfest at TheFunded.com Reveals Himself to Wired"
357:
195:
173:
full access to special features and cost around $ 400 per year.
411:"Venture firm EDF moves to silence entrepreneur at TheFunded"
380:"Are VCs threatening lawsuits to stay spotless at TheFunded?"
103:
that allows users to post anonymous ratings and reviews of
83:
467:
295:"TheFunded: Still the Valley's anonymous gossip shop"
78:
68:
50:
40:
30:
8:
107:investment firms. It was founded in 2007 by
16:
22:
15:
288:
286:
284:
282:
280:
251:
249:
247:
245:
243:
241:
319:
317:
181:
404:
402:
189:Greathouse, John (16 September 2013).
147:TheFunded was the subject of numerous
7:
439:"TheFunded reveals blacklisted VCs"
256:Ante, Spencer E. (9 January 2008).
352:Hopkins, Mark (15 November 2007).
324:Adler, Carlye (15 November 2007).
14:
409:Marshall, Matt (12 August 2008).
293:Mangalindan, JP (24 March 2011).
378:Marshall, Matt (21 March 2008).
354:"theFunded: Ted is Adeo Ressi"
134:ire of venture capitalists in
1:
437:Ha, Anthony (19 March 2009).
217:Tweney, Dylan (15 May 2014).
45:Investor ratings and reviews
499:
154:Communications Decency Act
35:Privately Held Corporation
21:
483:American review websites
263:Bloomberg Businessweek
258:"Show Me the Moneymen"
144:on November 15, 2007.
18:
94:
93:
490:
468:Official Website
456:
455:
453:
451:
434:
428:
427:
425:
423:
406:
397:
396:
394:
392:
375:
369:
368:
366:
364:
349:
343:
342:
340:
338:
321:
312:
311:
309:
307:
290:
275:
274:
272:
270:
253:
236:
235:
233:
231:
214:
208:
207:
205:
203:
186:
90:
87:
85:
64:
62:
26:
19:
498:
497:
493:
492:
491:
489:
488:
487:
473:
472:
464:
459:
449:
447:
436:
435:
431:
421:
419:
408:
407:
400:
390:
388:
377:
376:
372:
362:
360:
351:
350:
346:
336:
334:
323:
322:
315:
305:
303:
292:
291:
278:
268:
266:
255:
254:
239:
229:
227:
216:
215:
211:
201:
199:
188:
187:
183:
179:
166:
120:
105:venture capital
82:
60:
58:
12:
11:
5:
496:
494:
486:
485:
475:
474:
471:
470:
463:
462:External links
460:
458:
457:
429:
398:
370:
344:
313:
276:
237:
209:
180:
178:
175:
165:
162:
136:Silicon Valley
124:New Year's Eve
119:
116:
101:review website
92:
91:
80:
76:
75:
70:
66:
65:
52:
48:
47:
42:
38:
37:
32:
28:
27:
13:
10:
9:
6:
4:
3:
2:
495:
484:
481:
480:
478:
469:
466:
465:
461:
446:
445:
440:
433:
430:
418:
417:
412:
405:
403:
399:
387:
386:
381:
374:
371:
359:
355:
348:
345:
333:
332:
327:
320:
318:
314:
302:
301:
296:
289:
287:
285:
283:
281:
277:
265:
264:
259:
252:
250:
248:
246:
244:
242:
238:
226:
225:
220:
213:
210:
198:
197:
192:
185:
182:
176:
174:
170:
163:
161:
157:
155:
150:
145:
143:
142:
137:
131:
129:
125:
117:
115:
113:
110:
106:
102:
98:
89:
81:
77:
74:
71:
67:
56:
55:New York City
53:
49:
46:
43:
39:
36:
33:
29:
25:
20:
448:. Retrieved
442:
432:
420:. Retrieved
414:
389:. Retrieved
383:
373:
361:. Retrieved
347:
335:. Retrieved
329:
304:. Retrieved
298:
267:. Retrieved
261:
228:. Retrieved
222:
212:
200:. Retrieved
194:
184:
171:
167:
158:
146:
139:
132:
121:
109:entrepreneur
96:
95:
31:Company type
444:VentureBeat
416:VentureBeat
385:VentureBeat
224:VentureBeat
450:7 December
422:7 December
391:7 December
363:7 December
337:7 December
306:7 December
269:7 December
230:7 December
202:7 December
177:References
149:defamation
128:TechCrunch
112:Adeo Ressi
86:.thefunded
73:Adeo Ressi
97:TheFunded
17:TheFunded
477:Category
358:Mashable
164:Features
41:Industry
300:Fortune
118:History
79:Website
69:Founder
59: (
51:Founded
196:Forbes
57:, 2007
331:Wired
141:Wired
99:is a
452:2014
424:2014
393:2014
365:2014
339:2014
308:2014
271:2014
232:2014
204:2014
88:.com
61:2007
84:www
479::
441:.
413:.
401:^
382:.
356:.
328:.
316:^
297:.
279:^
260:.
240:^
221:.
193:.
454:.
426:.
395:.
367:.
341:.
310:.
273:.
234:.
206:.
63:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.