Posted by The Founding Member on 2007-05-23
We listened to the Members and adjusted how ratings are displayed. So, in the fund list to the right, dark blue rating numbers are listed first and represent funds with at least 3 separate Members rating the fund. Light blue rating numbers are displayed afterwards, representing less than three Members rating the fund. This change is designed to help visitors and Members discern more qualified ratings from less qualified ratings. Both dark and light blue rating numbers are ordered from highest to lowest. In addition, we have added the count of individual Members that have rated the fund on the fund detail page, where it now says "Rated x.x by y" with y being the number of Members.
The average fund rating displayed is calculated by taking the average of each category and then averaging all five categories where a numerical rating is available. We have chosen not to do the alternative, which would be to take a combined average of all ratings in all categories. We do not feel that this combined average represents the fund properly, as it weights a category where the fund may be strong and have a lot of positive ratings. Also, TheFunded does not display perfect 5.0 ratings in the fund list to the right, though these ratings are displayed when you click on the actual fund. The reason is that every example of a 5.0 rated fund has 1 Member contribution in less than five categories, which we do not feel is representative.
Members, please take the time to both write a review and contribute a numerical rating. Both pieces of information are invaluable to the many entrepreneurs seeking funding through TheFunded. Thank you, and enjoy!PRIVATE: Members Only