Wednesday, September 17, 2008
Valleywag: iPhone app fund rejects 99.8 percent of applicants
""In 6 months, we’ve received over 2,700 plans. That’s about 20x what we received in a similar period last year. Out of that group, we’ve funded five companies." Honestly, I have no idea why Kleiner Perkins partner Matt Murphy has decided to blog about the firm's iFund venture with Apple. KPCB is notorious for doing all its deals through insider connections, not by trolling for ideas on the Internet. (Apple board member Al Gore is also a partner at Kleiner Perkins, so it's not like the firm needs an in.) Murphy concludes, "Stay tuned for a future conversation on mobile monetization and navigating the tradeoffs of free versus paid applications." How about a conversation on navigating Apple's imperious rule of its App Store?"
at 6:41:00 AM