Start-up Gossip Site Sued by Disgruntled VC Firm

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A web site founded to give entrepreneurs the opportunity to report on their experiences dealing with various venture capital firms has received a subpoena from a disgruntled VC firm.

According to CNET, US site TheFunded received the subpeona from a VC firm that received a bad wrap from several entrepreneurs, with one writing it should “be avoided unless you’re desperate”.

The subpoena requires TheFunded to give up information on the identity of the contributor who made the negative comments by 27 August.

The VC firm has already launched a writ against the anonymous entrepreneur — all they need now is the identity of the person to kick off their case.

Fortunately for the no-doubt rather nervous entrepreneur concerned, TheFunded says it does not store any information that can allow its members to be personally identified.

“I’m confident that his or her identity will be maintained in this instance,” TheFunded founding member Adeo Ressi says.

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