Wednesday, March 31, 2010

KPCB Doubles iPhone Fund, Steve Jobs Happy, But Boston Developers Prefer Android

Kleiner Perkins Caufield & Byers (KPCB) just announced the doubling of its venture capital iFund to $200 million for companies developing applications for Apple's iPhone OS family of products, including iPhone, iPod touch, and iPad.

"Kleiner Perkins has done a terrific job at finding, funding and supporting great iPhone app developers," said Steve Jobs, Apple's CEO. "We are thrilled that they are doubling the size of their fund, along with expanding it to now include iPad developers too."

Established in 2008 as a $100 million investment pool, fourteen iFund backed companies have been supported by an additional $330 million from follow-on investors.

KPCB also announced iFund-supported companies have more than 20 applications in development for the soon-to-be-released iPad, with 11 available at first ship on April 3. KPCB noted the iPhone has created an inflection in mobile content consumption and the iPad will lead the next wave of innovation in mobile computing. The iFund is increasing its investment dollars to back entrepreneurs and build companies that focus on these areas. Particular areas of interest on iPad include entertainment, communication, social networking, commerce, health care, and education.

"Welcome to the brave new post-PC era where a swoosh of fluidity replaces the traditional mouse-bound GUI. A new, truly revolutionary platform is rare, and a prize for entrepreneurs," said John Doerr, KPCB Partner. "We expect all ventures to have an iPad strategy. We will fund many more ventures for iPad, and the iFund will accelerate their success."

In Boston, developers prefer Android. As Erin Kutz wrote in Xconomy last month, “So the iPhone may be the prettiest, the Blackberry may boast the biggest smartphone market share, and the Windows Mobile platform is, um, around, but it’s Android that’s best for developing apps. Or at least it was the Android developers who best defended their platform at the smartphone smackdown during our Mobile Madness event.”

Of course, many new applications under development will likely be available on both platforms.


  1. From Dan Primak in today's peHUBwire:
    "Kleiner Perkins yesterday announced that it has doubled the size of its iFund to $200 million -- in part to take advantage of iPad-related opportunities. Per usual, Kleiner manages to squeeze more attention out of less actual news than any other investment firm I know."

  2. The question that many newbies want answered is how to make an app for iphone if you're not a programmer, and how to turn those apps into a profitable income. It's definitely possible, and if the app turns out to be a hit, the rewards can be extremely lucrative.