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Facebook-Apps VC

Silicon Valley VC fund Bay Partners has earmarked millions of dollars for investments in startups creating applications for Facebook. The new program, called AppFactory, will be officially launched on Tuesday.

AppFactory is investing only new Facebook applications. Salil Deshpande, the Bay Partner who will run the program along with senior associate Angela Strange, says that Facebook is now the Social Operating System, and that new platforms and systems historically lead to a new economy. Bay wants to be in the middle of that economy and fund as many of the “killer applications” as they are able to find.

Salil says 40,000 developers have requested keys from Facebook to create applications, and over 1,600 have already launched on Facebook. AppFactory will be making up to fifty investments ranging from $25,000 to $250,000.

Misc

Facebook would provide the growth–Peck said Facebook pages viewed will be about 265 billion in 2007 and could grow to 1.6 trillion in 2016. That eye-popping projection would mean Facebook would account for 5.5 percent of all Internet users by 2016, or the same amount Yahoo does today.

Facebook and the Media

What's your Facebook strategy?

Jacob Kaplan-Moss -- Lead Developer, Lawrence Journal-World:
"In a nutshell, our attitude towards Facebook is 'this too shall pass.' We see no reason to buy into Facebook's walled-garden approach; our time is better spent serving OUR audience instead of trying to feed on Facebook's detritus like a Ramora."
created by jr on Jun 24, 2007 at 02:50:20 pm
updated by jr on Jan 27, 2008 at 06:00:42 pm
    Comments: 0

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tags: technology   socialsoftware   

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