Facebook founder and CEO Mark Zuckerberg has announced that Facebook will be launching a new entity called fbFund with Accel and Founders Fund, according to TechCrunch.
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.
Good news to hear about this big stake in the Facebook apps. Some affiliates and merchants already have Facebook apps, and I think we’ll be seeing lots more in the near future.
Affiliate Summit recently launched a Facebook app, Ask Affiliate Summit, where affiliate marketers can ask questions and get answers about affiliate marketing from myself and my Affiliate Summit co-founder, Missy Ward.