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Friday, July 17, 2009
The Pitch
MyFaithDaily.com provides Christian social networking
By Mass High Tech staff
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MHT's Efrain Viscarolasaga: How social networking is changing business
MyFaithDaily.com Inc.
Headquarters: Marlborough
Employees: 7
Founded: 2008
Web: www.myfaithdaily.com
E-mail: kdrahman@myfaithdaily.info
Phone: 508-630-2331
The Pitch: MyFaithDaily is seeking $2 million.
PITCHING THE TECHNOLOGY
MyFaithDaily.com says churches have been taking part in social networking for hundreds of years — just not online. The web site is a Christian-themed enterprise social network, designed to appeal to the world’s 2.5 billion Christians. The site will feature media and social software including real-time communication, contact management, blog and RSS software, event and meeting facilitation, tagging and social bookmarking, wiki software, relationship capital management, job referral, biographic analysis and people search. The site will also serve as an e-commerce vehicle for Christianity-related products.
PITCHING THE PEOPLE
Who is on the management team? K. Dwayne Rahman, founder and chairman, formerly of New Vision Holding Group Inc.; Denise Williams, president, formerly of Merrill Lynch & Co. Inc.; Robert Roach, Jr., chief business adviser, CEO of Nile Capital LLC; Ann Norman, business adviser, formerly of Oneworld Software Solutions.
Have executives been involved in a cashout prior to this venture? Norman was at Oneworld when it was bought by Microsoft in 2003.
Who is on the board of advisers? Gregory Davis, bishop, Full Gospel Baptist Church Fellowship; Major Jemison, former president of the Progressive National Baptist Convention Inc. George Brooks, bishop, Full Gospel Baptist Church Fellowship; and others.
PITCHING THE BUSINESS
How much money is being sought? The company is seeking $2 million.
What partnerships, collaborations or affiliations are already in place? MyFaithDaily says it has partnerships with TCT Ministries Inc., Day Star Television Network, Streaming Faith LLC and the Word Network.
List any federal or state grants, contracts or awards received: None.
What’s the market size being pursued? MyFaithDaily says its target market is composed of 2.5 billion Christians worldwide.
Who are the likely competitors, direct or indirect? MyFaithDaily says it competes with websites such as xianz.com, mychurch.org and praize.com.
Is the company profitable? No.
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