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social media watch

Start Me Up: Social Media sFund Up and Running

Posted by Sheila Shayon on October 25, 2010 04:30 PM

The recently announced “sFund” to encourage social media startups has a pedigreed partnership - Kleiner Perkins, Facebook, Zynga, Amazon.com, Comcast, Liberty Media and Allen & Co. – and an initial combined pool of $250 million to invest in fledgling ventures.

John Doerr, Kleiner Perkins partner, cites Facebook’s 500 million plus global membership as only the beginning of an "incredible and disruptive innovation," wave.

Jeff Bezos concurs: "These social apps do tend to be very viral, and when they hit, they hit fast and they can grow violently. That really does play to the strengths of Amazon Web Services."

The sFund intends to accelerate the growth rate for social networking start-ups, providing advice as well as capital to entrepreneurs in the social media arena as the brass ring shines ever more brightly. "There's going to be an opportunity over the next five years or so to pick any industry and rethink it," says Mark Zuckerberg, Facebook CEO.Continue reading...

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