Facebook Launches fbFund with Accel and Founders Fund to Invest in New Facebook Apps ($10 million)(techcrunch.com)
techcrunch.com
Facebook Launches fbFund with Accel and Founders Fund to Invest in New Facebook Apps ($10 million)
http://www.techcrunch.com/2007/09/17/facebook-launches-fbfund-with-accel-and-founders-fund-to-invest-in-new-facebook-apps/
4 comments
I'm curious how this will work. Will they fund small apps and not expect them to create different types of revenue streams, just advertising? What does YC think?
They don't care. For $10m they've just secured their $5B+ valuation. This move is all about PR and getting more apps integrated into their walled garden, to increase their valuation.
thanks for the insight. ;-D
You're welcome. :)
PS: Hope I'm not being too cynical but I really do believe that this is about protecting their IPO. If you look into who's funding this, you'll see that it's the same people who funded FB. What they just did is better and cheaper than buying an insurance on a $5B property.
PS: Hope I'm not being too cynical but I really do believe that this is about protecting their IPO. If you look into who's funding this, you'll see that it's the same people who funded FB. What they just did is better and cheaper than buying an insurance on a $5B property.
Good for them. This solidifies that they'll buy outstanding Facebook applications instead of recreating them internally.
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for a second there, I thought they were actually launching a bank. Like paypal, but on facebook. Now THAT would be huge.
God, I'd love to start a bank or a currency. That's where all the real money is.
"Give me control of a nations money and I care not who makes the laws" ~ Meyer Amschel Rothschild
Literally.
edit: At the moment, Facebook seems to be valuable in the same way that Tommy Lee is a celebrity. It's not clear to me how Tommy Lee gained his popularity, and he's not really that interesting in the first place, but he remains popular by continuing to be Tommy Lee. Facebook's using its valuation to raise its valuation even when no actual new value is being created. If the platform were as awesome as everyone believes, Facebook wouldn't need to put their own money/reputation into funding people for it. But maybe I'm missing something.