In four weeks, Facebook received 600 requests for grants from the fbFund, the company said today. What’s that? A $10 million pile of money from Accel Partners and the Founders Fund that’ll be doled out to application developers in $25,000 to $250,000 chunks.
This is the first round of the fbFund developer competition, which gives out $25,000 to the top 25 apps — as judged by Facebook, the investors, and an advisory committee. Then the apps launch on Facebook, and users get to evaluate them, too. The top five will get $250,000 each.
The fund has already handed out grants to some apps – they were announced at the company’s developer conference in July – but this is the first round of its formal competition. The winners will be announced later this month.
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