40Billion

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40Billion is a crowd funding site that promotes community-based business fund-raising on social networking sites such as Facebook, LinkedIn and Twitter.[1] Launched in 2008, it is mainly used for professional networking by entrepreneurs and small business owners. Its headquarters are in Atlanta, Georgia.

40Billion was started in 2008 by Cornelius Colin McNab, an entrepreneur, inventor, and graduate of Yale and MIT Sloan School of Management. The company had raised $1.05 million in three Series Seed financing rounds.[no citations needed here] In 2011, 40Billion released social networking tools that let users connect to the site using their existing LinkedIn or Facebook profiles, as well as import contacts from email programs like Gmail and Microsoft Outlook.[2]

40Billion is used by startup entrepreneurs seeking capital from friends and family or others through gifts, donations, and loans.[3] Investors on the site have three options: make a donation in exchange for tangible rewards, lend up to $99,000 or provide a commercial paper note of up to $1 million. Each investor can fund up to $10,000.[4]

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