Apple helps launch $100 million iFund venture capital pool

Posted:
in iPhone edited January 2014
Apple has revealed that a major venture capitalist firm is making $100 million available to entrepreneurs looking to jumpstart businesses based on the iPhone and iPod touch.



Launched by Kleiner Perkins Caufield & Byers (KPCB) at Apple's iPhone Software Roadmap event, the money is placed into a collective pool known as the iFund, which will be used to provide early financial support for promising new companies using the software development kit to create software for Apple's handhelds.



Most of the investment will go to teams developing location-based services, mobile commerce, social networks, and other communication or entertainment add-ons for the mobile version of Mac OS X.



KPCB doesn't say whether it has established a particular system for distributing the money, but says it will invest venture capital to help the companies become completely independent. It also plans to lend its experience in both building startups as well as networking the young companies with partners they may need to expand.



The finances will be distributed chiefly by KPCB venture capitalist Matt Murphy as well as several other notable investors, including former Intel marketer and current Google board member John Doerr. To him, the SDK is an unusual chance to invest in a new and potentially successful category.



"A revolutionary new platform is a rare and prized opportunity for entrepreneurs, and that's exactly what Apple has created," Doerr says. "We think several significant new companies will emerge as this new platform evolves."



More news from today's Apple event



Apple's iPhone takes on the Enterprise

Apple posts iPhone Software Roadmap event stream

Coming to iPhone: Instant Messenger, EA's Spore, SEGA games

Apple announces iPhone 2.0 software and SDK beta

Notes from Apple's iPhone Software Roadmap event

«1

Comments

  • Reply 1 of 34
    SpamSandwichSpamSandwich Posts: 33,407member
    That's one big bang of a startup fund.
  • Reply 2 of 34
    crebcreb Posts: 276member
    Now this is impressive, and more like the Apple I grew up with! Is the Great Woz in charge of the fund allocation?
  • Reply 3 of 34
    quinneyquinney Posts: 2,528member
    Quote:
    Originally Posted by AppleInsider View Post


    The finances will be distributed chiefly by KPCB venture capitalist Matt Murphy as well as several other notable investors...



    Matt "guitar" Murphy, Duck Dunn, Bones Malone......
  • Reply 4 of 34
    solipsismsolipsism Posts: 25,726member
    This $100M iFund, Apple fronting the bill for Exchange support instead of charging for it per person, and the very low $99 developer fee means that total cost of ownership for the iPhone will be lower than the competition.



    Apple really seems to be gunning for RiM's marketshare.
  • Reply 5 of 34
    flounderflounder Posts: 2,674member
    Huh? What connection do the iFund and Exchange support have with each other? I'm not following you.



    Oh wait, never mind, you weren't connecting them, you were just listing them. my mistake.
  • Reply 6 of 34
    backtomacbacktomac Posts: 4,579member
    Quote:
    Originally Posted by solipsism View Post


    This $100M iFund, Apple fronting the bill for Exchange support instead of charging for it per person, and the very low $99 developer fee means that total cost of ownership for the iPhone will be lower than the competition.



    Apple really seems to be gunning for RiM's marketshare.



    I agree. I watched the quicktime presentation at the Apple website and several references were made to RIM.
  • Reply 7 of 34
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by backtomac View Post


    I agree. I watched the quicktime presentation at the Apple website and several references were made to RIM.



    There was a remark that seemed to speak directly to teh RiM outages taht have recently happened. I'd like to know more about how RiM is setup and how Apple is able to by pass those extra steps while RiM doesn't. Of course, I may have easily misinterpreted that portion of the keynote.
  • Reply 8 of 34
    SpamSandwichSpamSandwich Posts: 33,407member
    Watch the price of RIMM tomorrow. They should be getting very, very nervous.



    UPDATE: I just checked their stock price... whoa. Not good.
  • Reply 9 of 34
    backtomacbacktomac Posts: 4,579member
    Quote:
    Originally Posted by SpamSandwich View Post


    Watch the price of RIMM tomorrow. They should be getting very, very nervous.



    UPDATE: I just checked their stock price... whoa. Not good.



    It would appear to me that Apple now match RIM in enterprise features but I'm guessing that the iPhone is a more robust platform to write apps for.



    I can see a lot of companies writing apps for their business on the iPhone.



    And the costs to develop for the iPhone seem reasonable, but I'm not a developer. There isn't even a lot of bitchin' at Ars, which is unusual. They usually rag heavily on the iPhone over there.
  • Reply 10 of 34
    SpamSandwichSpamSandwich Posts: 33,407member
    Quote:
    Originally Posted by backtomac View Post


    It would appear to me that Apple now match RIM in enterprise features but I'm guessing that the iPhone is a more robust platform to write apps for.



    I can see a lot of companies writing apps for their business on the iPhone.



    And the costs to develop for the iPhone seem reasonable, but I'm not a developer. There isn't even a lot of bitchin' at Ars, which is unusual. They usually rag heavily on the iPhone over there.



    According to some of the posts I read here, the cost is really cheap. Some companies charge thousands to develop for their platform.
  • Reply 11 of 34
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by SpamSandwich View Post


    According to some of the posts I read here, the cost is really cheap. Some companies charge thousands to develop for their platform.



    $399 for private enterprise apps is amazingly cheap. Not to mention that apps can be made wuicker and cheaper than many other platforms.



    Though I have no use for it, it's too bad Apple didn't showcase cut and paste for v2, as it would have covered everything I can think of that people have been bitching about software-wise.
  • Reply 12 of 34
    akacakac Posts: 512member
    Quote:
    Originally Posted by backtomac View Post


    It would appear to me that Apple now match RIM in enterprise features but I'm guessing that the iPhone is a more robust platform to write apps for.



    I can see a lot of companies writing apps for their business on the iPhone.



    And the costs to develop for the iPhone seem reasonable, but I'm not a developer. There isn't even a lot of bitchin' at Ars, which is unusual. They usually rag heavily on the iPhone over there.



    As a WM and BB developer - and now iPhone - I can tell you right now that RIM's is the one that in real life is least robust.
  • Reply 13 of 34
    backtomacbacktomac Posts: 4,579member
    Quote:
    Originally Posted by Akac View Post


    As a WM and BB developer - and now iPhone - I can tell you right now that RIM's is the one that in real life is least robust.



    What's your impression of the SDK, enterprise features and development platform of the iPhone?



    I watched the presentation at Apple's website and came away very impressed but I'm not a developer and have limited insight into that area. Maybe I'm just easily impressed...or the events of today were impressive.



    Your thoughts.
  • Reply 14 of 34
    galleygalley Posts: 971member
    Quote:
    Originally Posted by quinney View Post


    Matt "guitar" Murphy, Duck Dunn, Bones Malone......



    Don't forget "Blue" Lou Marini, and "Mr. Fabulous", Alan Rubin!
  • Reply 15 of 34
    mydomydo Posts: 1,888member
    Quote:
    Originally Posted by quinney View Post


    Matt "guitar" Murphy, Duck Dunn, Bones Malone......



    Oh man you hurt me with that
  • Reply 16 of 34
    They had someone from Kleiner Perkins onstage and they didn't ask them about EEstor? Would anybody be interested in a 200-hour battery for the MacBook Air?
  • Reply 17 of 34
    SpamSandwichSpamSandwich Posts: 33,407member
    I'm incredulous there aren't more comments about this iFund. This is really huge news.
  • Reply 18 of 34
    Quote:
    Originally Posted by SpamSandwich View Post


    I'm incredulous there aren't more comments about this iFund. This is really huge news.



    I couldn't agree more.
  • Reply 19 of 34
    nvidia2008nvidia2008 Posts: 9,262member
    Ouch. Given the RIM share price slipping somewhat, and the fact that RIM penetration (ooh, that sounds soooo gay) outside of the US is actually quite low... iPhone FTW.
  • Reply 20 of 34
    nvidia2008nvidia2008 Posts: 9,262member
    Quote:
    Originally Posted by SpamSandwich View Post


    I'm incredulous there aren't more comments about this iFund. This is really huge news.



    Quote:
    Originally Posted by [alloc init] View Post


    I couldn't agree more.



    Since I am not an AAPL shareholder, I'll be an a55 and say this is good use of Apple's massive cash load. 100 million is a drop in the lake. The fact that it is a long-term investment, especially in times of US and Western "OMFG China is going to leave us in the dust!11!!" thought, is quite astounding.
Sign In or Register to comment.