There’s good news for budding entrepreneurs who are hoping to carve their niche in the social web. Venture capital firm Kleiner, Perkins, Caufield and Byers has spearheaded the sFund to invest in companies that develop applications for social networking.
Facebook, Amazon, the Zynga Gaming Network, Comcast, Liberty Media and Allen & Company are the major co-investors in the fund.
"The sFund will provide financing, counsel and relationship capital for a new generation of entrepreneurs to deliver on the promise of the social web," the firm said.
KPCM is an investor in Zynga, which is famous for being the creator of Farmville. Although it missed out on the social heavyweights Facebook and Twitter, KPCB backed Google, Amazon and AOL.
Are we seeing a heliocentric formation here with Facebook attracting social startups that are bound to revolve around the social juggernaut eventually? Alternatively, can this also be interpreted as a team effort to establish a monopoly in the social web and not let the search engine giant catch up?
On a parallel note, Facebook seems to be hiring Chrome OS engineers. Everyone is curious to know if there’s more to this than what meets the eye.
Things are moving fast and I am sure we’ll be seeing more developments soon. Let’s stay tuned!
