40billion.com: Get funded by friends, family & fools
Written on August 2, 2008 – 12:45 pm
Boris Veldhuijzen van Zanten, Serial Internet Entrepreneur
There are several ways to get your start-up funded and one of them is the so called Triple F Fund. The 3 F’s stand for friends, family and of course: fools. The FFF fund is often overlooked as a viable option for getting funding. There are some drawbacks to getting money from these groups of people and one of them is getting everybody organized.
Now there is a service which plans to organize this unorganized group of individuals and make it easier for you to get your first round completed. As Cornelius Colin McNab, Founder of 40billion.com explains:
“We are addressing a $40 billion gap in funding for small businesses, and our goal is to help all those hardworking entrepreneurs that have good ideas but don’t have the money or resources to get started”
So, instead of focusing solely on professional VCs you might want to consider using 40billion.com to get started.
I hope you like that post!
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By Patrick de Laive on Aug 3, 2008
In what way is this different from fundable.org ?
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It looks very similar…
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By Neil on Aug 3, 2008
The business model: “You receive the amount raised (minus a small service fee of 5-7%) at the end of the month.”
First, I would love to see what a big service fee looks like. Second, what happens if they go bust in the days after they take your funds and before they pay them out?
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