Facebook offers funding to Platform developers
Continuing the Facebook theme, company founder Mark Zuckerberg announced a new fund yesterday at the TechCrunch40 event.
Mark Hendrickson has the story over on TechCrunch, and Dave Errington here at Talis just pointed out a complementary piece on CNET.
“The size of the fund will be $10 million (coming from Accel and Founders Fund) with anywhere between $25 to $250 thousand in grants available for each selected startup dedicated to developing Facebook applications. Founders Fund and Accel will get the right of first refusal for the first round of financing of any company in the fund.”
Hendrickson goes on to write;
“Zuckerberg’s announcement comes two months after Bay Partners decided to earmark millions of dollars for investment in Facebook applications. Bay Partners’ prospects will certainly be diminished as the result of Facebook’s move to fund applications built on its own platform.”
Good news for those seeking to develop for Facebook’s millions, and another plank in the strategy to draw innovation inside Facebook… and keep it there.
Technorati Tags: Facebook, Talis, TechCrunch
