40Billion.com Launches Funding Probability for Small Business Entrepreneurs

Tool uses algorithm to estimate likelihood that friends and family will invest in a business

40Billion.com, the leading professional social funding platform, has launched a beta version of its Funding Probability tool to help users determine who in their social networks are most likely to provide funding for their business ventures.

It is estimated that over 50% of new businesses generate funds from friends and family of the entrepreneurs. However, for many entrepreneurs, the main challenge that they face is locating the right people who are most willing and able to fund their ventures. Recognizing this common problem, 40Billion.com has created a unique solution called Funding Probability.

As the name suggests, the Funding Probability tool helps users estimate the probability that each person in their social network will become a funder or investor. The tool is based on a proprietary algorithm, which ranks each of the user’s contacts and indicates funding probability with an easy scale of High, Medium, and Low. The “High” probability contacts are those individuals who are most likely to provide funding to a particular business venture, and the “Low” probability contacts are individuals who are least likely to fund it. Based on this scale, the system is able to match the user’s venture with the most promising funding sources in their social networks.

Since launching a prototype of the Funding Probability tool in April, the company has seen promising results as 9 out of 10 actual funders in the entrepreneur’s social network on 40Billion were ranked either High or Medium on the funding probability scale.

The Funding Probability feature saves entrepreneurs time and resources that they often spend chasing unlikely funding sources. Fundraisers can access the tool by clicking Invite Your Friends on their business fundraising profile page, and 40Billion takes much of the guess work out of raising money. Step by step, the online company is working to make social funding easier for U.S. small businesses to raise money than traditional funding methods.

About 40Billion.com

40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.

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40Billion.com Launches Mobile Website for Small Business Entrepreneurs to Raise Money

Users build social networks and raise funding for businesses conveniently on web-enabled phones

40Billion.com, the leading professional social funding platform, has launched 40Billion.mobi as the new version of its mobile website. Optimized for smart phones the new site enables rich user experiences and provides new features allowing users to raise money and grow professional social networks more conveniently via 40Billion on the go.

40Billion.mobi is another innovative way to make fundraising more convenient for small business entrepreneurs. Users of the fast-growing site can manage their professional social networks and business fundraising profiles anwhere they are with the convenience of their web-enabled smartphones, including iPhone, Blackberry, and Android phones. 

The development of a new mobile site gives entrepreneurs and investors the convenience they need to build and grow businesses while traveling. Users can choose whether to browse the full 40Billion.com site, or  whether to use the mobile version of the site at 40Billion.mobi. According to Cornelius McNab, founder and chief executive, “There are three times as many cell phone users in the world as there are regular computer Internet users, and cell phone users are adopting web-enabled smartphones at a fast rate. Many business professionals already read their emails from their phones, so now they can read 40Billion’s emails, build their professional social networks of contacts, raise money for their businesses, view and track Raises, and search for resources to help build businesses.”

The company anticipates that the launch of the 40Billion.mobi will lead to massive growth by giving busy professionals the freedom and flexibility to better access and manage business fundraising profiles from anywhere. As an extension of 40Billion.com and another way to access its services online, 40Billion.mobi is designed to further simplify the sometimes daunting process of raising business capital with friends and family.
About 40Billion.com

40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.