Facebook Starts fbFund A Venture Fund For Facebook Applications

fbFund is a Joint Venture With Accel Partners and Founders Fund

If your a Facebook developer right now, you have to be smiling. Facebook has tipped their hands as to their intentions for monetizing their developers platform. During his keynote conversation at TechCrunch 40, Mark Zuckerburg, announced that Facebook has started a venture fund for Facebook applications with Accel Partners and Founders Fund. According to TechCrunch,

“The size of the fund will be $10 million 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.”

For quite sometime, many have been wondering how Facebook planned to make money from their developer platform. While I still believe they should charge a access fee for their API, there is considerably more money in funding developers who make great apps that sell for millions.

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