Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers announced Thursday that it was establishing a $250 million fund to help entrepreneurs develop businesses that will take advantage of the power of social networking.
At a press conference at social networking leader Facebook Inc., KPCB partner John Doerr said the firm wants “to find and fund and accelerate the success of these new kinds of social entrepreneurs.”
Joining Doerr at the conference were Facebook CEO Mark Zuckerberg, Amazon CEO Jeff Bezos, Mark Pincus, the chief executive of social games leader Zynga Games Network, and Bing Gordon, former chief creative office of Electronic Arts. They are all investors in what they call the S Fund.
Other companies who are investors in the fund are Comcast, Liberty Media and Allen & Co. LLC.
“We’re on a third wave of incredible and disruptive innovation,” Doerr said.
Zuckerberg said the fund will help entrepreneurs build social applications and services “from the ground up.”
“The opportunity is there in the next five years or so to pick any industry and re-imagine it in the social web,” Zuckerberg said.（source：sfgate）