Geeks.co.uk will cover news articles, irreverent and intelligent features, independent artwork and reviews on the latest gadgets, phones, MP3s, computers and games consoles.
The site will also act as a forum for users to offer their views on the latest gadgets and gamer products coming to market.
Rasul, who features in an online version of the BBC's 'Dragons Den', alongside American Julie Meyer, said: "It's pretty much geek gold.
"The objective has been to establish an [online] magazine that allows everyday gamers and users of gadgets to interact with each other to create fun debate on the gadgets and technology we use every day.
"The site benefits from an outstanding domain name and I believe the management and editorial teams in place have the ability to make it the most successful site of its kind in the UK."
Geeks.co.uk will be managed and edited primarily by a team of females as part of the site's strategy of appealing to both sexes.