“Because opening up the site just wasn’t enough, apparently: Facebook is branching into a new role as an investor. The company has announced a new program called FBFund to provide grants to developers who are interested in creating applications for the Facebook Platform. FBFund, with cash infused by Facebook investors Accel Partners and the Founders Fund, will start with $10 million and will provide $25,000-$250,000 grants to developers who apply for the program. The fund’s investment committee will consist of Facebook founder Mark Zuckerberg, vice president of product marketing and operations Charmath Palihapitaya, and board members Jim Breyer of Accel Partners and Peter Thiel of the Founders Fund.”
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