KPCB begins funding companies with $100 million iFund for Apple iPhone, iPod touch development
Tuesday, May 27, 2008 - 01:42 PM EST"Apple won't crank up the hype machine about all the new things an iPhone can do until its Worldwide Developers Conference on June 9, but here's a small taste of what's in store: finding things to do in the neighborhood when you're at a loss," Peter Burrows reports for BusinessWeek.
"That's the idea behind Pelago, the first company funded by Kleiner Perkins Caufield & Byers as part of the $100 million iFund the venture capital firm announced in March at Apple's last big iPhone event. Pelago's software, called Whrrl, ties the mapping capabilities of the iPhone and other smartphones with the ability to find information about places where you, your friends, or anyone has been," Burrows reports.
"Apple's approach was to make it easy for any Mac developer—and there are millions of them—to create iPhone applications. While Kleiner Perkins is encouraging its iFund companies to create apps that run on many kinds of smartphones, KPCB partner Matt Murphy says Apple holds a huge advantage in this regard. 'Good luck finding a platform that has the same rabid developer base,' he says. Better yet, Apple will distribute developer's creations to the iPhone-owning public via the soon-to-open AppStore. While Apple will keep 30% of every dollar in sales, that's a better deal than many carriers give, with far less hassle and expense in landing one-off deals," Burrows reports.
"The venture firm has received submissions from 1,700 startups that hope to raise money via the iFund. So far, it has only funded Pelago and iControl, which makes a home automation application that would give iPhone users remote control over air conditioners, lighting, window shades, and so on. Murphy says the venture firm has extended an offer to one more startup, and is seriously considering another 10," Burrows reports.
Full article here.
MacDailyNews and iPodDailyNews are Apple Store affiliates and if you buy something from the Apple Store within 24-hours after clicking any one of our Apple Store ads, we will receive an affiliate percentage from Apple. There is no extra cost to you. Canadians please use this link: Apple Store Canada. Thank you in advance for helping to support MacDailyNews and iPodDailyNews.
Apple Store Advertisements:
• The all-new 13-inch MacBook. The next generation of notebooks starts at $1299.
• The all-new 15-inch Macbook Pro. New design. New features. New technologies. From $1999.
• The all-in-one iMac. Now at speeds up to 3.06GHz. Free shipping. From $1199.
• iPod touch. The funnest iPod ever. Starting at $229. Free Shipping.
• iPod nano. New design. New features. Starting at $149. Free shipping.
• Visit the Apple Store today. Free ground shipping on all orders over $50.
MacDailyNews on Twitter
Related articles:
Analyst: Third-party apps, App Store to help drive Apple iPhone, iPod touch sales - May 27, 2008
dailynews.com/index.php/weblog/comments/16689/">Kleiner Perkins’ John Doerr: Apple’s iPhone is bigger than the PC - March 14, 2008
Computerworld: Apple iPhone is breathtakingly ahead of its time - March 14, 2008
Pogue: iPhone Software 2.0 is going to be a huge, gigantic success - March 13, 2008
BusinessWeek discovers Apple’s iPod touch: ‘Could be the harbinger of new products’ - March 13, 2008
$100M iFund: KPCB’s first month expectations for iPhone dev business plans exceeded in 36 hours - March 12, 2008
Apple iPhone SDK downloads surpass 100,000 in first four days - March 12, 2008
Former Palm exec: Apple’s iPhone Software Roadmap makes other mobile platforms look pretty pathetic - March 12, 2008
Wireless Developer’s Journal: Apple iPhone now THE platform for the future of mobile computing - March 11, 2008
John Doerr: Apple iPhone may become the ‘third great platform’ - March 11, 2008
Apple’s iPhone, iPod touch: a great new game platform - March 10, 2008
Apple casts withering gaze upon RIM - March 07, 2008
High demand for Apple’s iPhone SDK bogs down servers - March 07, 2008
Computerworld: If you think Apple’s iPhone is popular now, just wait - March 07, 2008
Apple’s iPhone, iPod touch moves herald ‘gold rush’ for developers - March 07, 2008
Get ready for two-decades of mobile domination by Apple - March 07, 2008
iPhone 2.0: Apple turns both the PC and mobile communications industries upside-down - March 07, 2008
iPhone 2.0: Apple shows world how to create and grow a platform - March 07, 2008
Apple’s iPhone SDK far exceeds developer expectations - March 06, 2008
Salon: Apple’s Steve Jobs goes long way towards cementing iPhone as leading mobile platform - March 06, 2008
Apple posts QuickTime video of iPhone Software Roadmap Event - March 06, 2008
KPCB launches $100 million iFund for Apple iPhone application developers - March 06, 2008
Apple CEO Steve Jobs’ post iPhone Event Q&A - March 06, 2008
Apple announces iPhone 2.0 Software Beta; Includes SDK, built-in Microsoft Exchange ActiveSync - March 06, 2008
= 
as always....