The funds will primarily be used to establish a fully functional eBay style auction platform with the social media angle such as facebook. The cross function will allow the expansion of the platform over time which is my dream for it essentially. I have viewed many research articles an studies of the possibilities an see that some ventures have been dropped mid process due to forking off into social media singularly however I see with appropriate administrative efforts the auction in itself can and will produce profits even if fees are minimal and only executed after a sale has been completed or at the start of buy it now listings for example. As there are many facets to a social media website I want to make this unique at every possible opportunity by allowing the creation of accounts such as one per valid email address and then categories such as regional/ topic/ grouping etc. As funding is likely not going to be sufficient to develop a payment system we will be using online payment systems up until we can develop our own allowing us as a fully fledged organisation to maintain our own application to take payments for sales on the site with this we can guarantee an even more secure transaction to each an every user.
I have put a lot of time and effort into this so far and am investing 200 k into this myself, withyour help we can be up and running within 6 months and aim to start launching media campaigns by mid October at least.