Apple/Kleiner iPhone Apps Fund: 10X Google's

Valley-based VC firm Kleiner Perkins Caufield & Byers has earmarked $100 million to fund companies developing apps for Apple’s iPhone and iPod touch. That’s 10 times the size of Google’s $10 million Android ‘challenge’.

Companies large and small are eligible, and the fund will focus on apps including “location based services, social networking, mCommerce, communication, and entertainment.” Sounds like… everything!

What does Apple get? Lots of developer interest and plenty of fresh iPhone apps, which should help them sell phones — and the company gets 30% of all iPhone software revenue.

See Also:
Apple’s iPhone Software Take: 30%
Apple’s iPhone Gets A Business Update

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