socialweb Facebook, Amazon and Zynga will invest in a fund named as sFund to develop application and services for the new generation of social web. The major share of $250m will come from venture capital firm Kleiner Perkins Caufield & Byers. The main focus is going to be on social start-ups for industries from consumer to enterprise and from health to mobile. It will not invest in direct competitors to Facebook, Amazon or social gaming company Zynga. "There's going to be an opportunity over the next five years or so to pick any industry and rethink it in a social way," said Facebook's Mark Zuckerberg. KCB partner KPCB partner John Doerr also backed the same opinion. He told BBC news "These social networks are going to go from a half a billion people to billions of people connected on the planet and so represents an extraordinarily exciting time on the internet." sFund is similar to KPCB's $200m iFund that invested at companies who create applications for Apple's iPhone, iPod touch and iPad.
Older News
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
Copyright© 2010 The Gaea Times