Money Talks Telephone - iFund funds the iPhone

March 7, 2008
Maybe the coolest part of the new Apple iPhone is not the SDK-Software Developers Kit or the enterprise support for but is the fact that a leading venture capital company KPCB-Kleiner Perkins Caufield & Byers has created the iFund to fund iPhone products.
 
KPCB’s iFund is a $100M investment initiative that will fund market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform.  According the Apple, The iFund is agnostic to size and stage of investment and will invest in companies building applications, services and components. Focus areas include location based services, social networking, mCommerce (including advertising and payments), communication, and entertainment. The iFund will back innovators pursuing transformative, high-impact ideas with an eye towards building independent durable companies atop the iPhone / iPod touch platform.” 
 
The real “take-away” is not the money but that Apple is also committed to marketing these new products.  Apple the preeminent marketing company has taken the iPhone from zero to millions in an exceptionally short time.  When Asia and then the rest of the planet can get their hands on an iPhone, it will undoubtedly be the most profound device ever-invented.  Recently I had an executive from Chile who was in my OCS-SIP class who had an iPhone even though the iPhone is not available in Chile.  He said he bought a kit from one of the sources mentioned in http://www.ipodhacks.com/ and he was good-to-go.  Another example of give people something really great and they will go to the trouble to get it to work.  
Now is the time to get going and build the next generation of “killer applications.”  For more go here: http://developer.apple.com/iphone/program/
 


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