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Facebook announced at TechCrunch40 that the company will be launching a new entity called fbFund with Accel and Founders Fund.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.
TechCrunch’s Michael Arrington interviews Facebook CEO Mark Zuckerberg.
Facebook - Fruit Flies for Applications., from Soaring on Ridgelift
14 million people interacted with Facebook apps in August.
