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Software developers who dedicate themselves to building applications for Facebook will be paid up to $250,000 (£150,000) if their creations are used on the social networking site. Speaking at the TechCrunch40 conference, Mark Zuckerberg, who founded the site three years ago, announced that grants will be made available to inspire new applications. Grants from the fbFund, as it will be known, will come out of a $10m pot raised by Facebook’s primary backers Accel Capital and The Founders Fund. The two groups will get the right of first refusal for the first round of financing any start-up or company in the fund, which Zuckerberg will oversee as a board advisor. The fund is now accepting applications for $25,000 - $250,000 non-recourse grants from anyone interested in building their business on the site’s own platform. Any individual or company, anywhere in the world can apply as long as they have not raised any formal venture funding, Facebook said yesterday. In a statement, the site explained that the fund is being made available to “help grow the Facebook applications ecosystem.” On the fund’s intentions, it added: “We hope to entice an even larger group of people to become entrepreneurs and build a compelling business on [the] Facebook platform.” To add to the collection of 4,000 applications that have been developed since Facebook opened up to developers in June, make your submission to platform@facebook.com. Sep 20, 2007 Email this article Printer friendly page Previous Page
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