24. Fav.or.it

Founder: Nick Halstead
Website: www.fav.or.it

Nick started Fav.or.it, a website which allows you to display all your favourite RSS content in one place, in February last year. Still in Beta, the website is an innovative ‘feed reading system’, which means you can comment, ‘Twitter-like’, on a feed, ‘slice’ it up, and categorise it in your own system.

It’s easy to see how this complex model could have baffled potential investors. “However hard you try just sending out a summary of what you’re doing to VCs, it doesn’t work,” says Nick. “It all comes from word of mouth.”