Live: Kleiner Perkins Unveils The sFund With Facebook, Zynga, and Amazon
We’re here today at Facebook’s headquarters in Palo Alto, CA. But it’s not a Facebook event. Well, it’s not totally a Facebook event. Venture capital firm Kleiner Perkins Caufield & Byers has summoned the press here for an announcement. What will it be? Judging by the signs posted around here, it’s called the “sFund”. And Facebook, Amazong, Zynga, are major partners with Comcast, and Allen & Co. are on board to help out as well.
You may recall that in 2008, Kleiner Perkins announced a $100 million iFund, to spur iPhone app development. In March of this year, they doubled that down with another $200 million. They haven’t announced the size of this fund just yet, but we’d guess it’s closer to the latter amount. And judging from the name, I think it’s a good bet that this fund will be all about social applications.
The event should start in a few minutes. We’re hearing the heads of all the main companies are hear to talk about the new fund. And the first batch of companies should be presenting. Stay tuned.
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