MENLO PARK, Calif., July 11 /PRNewswire/ -- Bay Partners, a Silicon
Valley-based early stage venture capital firm with over $1B under
management, today announced the AppFactory, a program for funding
entrepreneurs writing applications for Facebook Platform. Bay Partners is
targeting tens of investments of $25,000 to $250,000 using a flexible,
fast-track approval process.
"We're excited by the entrepreneurial opportunities arising from
Facebook's new open platform architecture," said Salil Deshpande, Partner
at Bay Partners. "Facebook, in essence, has become the Social Operating
System. Historically, the creation of an operating system, or a platform,
has always led to a new economy, which includes a marketplace of
applications that are optimally designed for that platform and its user
base. Bay wants to find the killer apps, whatever they may be, for this new
social OS; and with the AppFactory, we will help entrepreneurs discover,
build, and monetize them."
Bay's AppFactory program was created in response to the recently
released Facebook platform, a development platform that enables companies
and engineers to integrate applications into the Facebook website and
offers them an opportunity to build businesses around those applications.
"Internet start-ups have traditionally had to not only build a service,
but also to find a way to attract millions of users and to make it possible
for them to interact in meaningful ways," said Angela Strange, Senior
Associate Partner at Bay Partners. "Facebook Platform provides an
alternative to the destination-site approach that may be more viable and
attractive for certain types of applications. By building on top of
Facebook Platform, distribution can be dramatically expedited by leveraging
an active user base of 29 million and growing."
Since AppFactory investments are really bets on people and concepts,
Bay will use an aggressive timeline and fast-track approach to awarding
AppFactory funding. An entrepreneur's time is best spent developing the
application and experimenting with variables that affect adoption,
virality, and usage, while exploring reasonable theories about
monetization. Bay Partners thus looks at the AppFactory as an accelerated
relationship starter with tomorrow's innovators. In addition to the
dollars, Bay commits technical and business resources, and a community of
"Factory Entrepreneurs," all part of a program designed to ensure the
business success of these application entrepreneurs.
"We are already starting to see developers use Amazon Web Services to
build applications for the Facebook platform. This is happening because
software developers know that their applications could become overnight
successes and therefore may need to scale quickly and reliably. Amazon Web
Services helps developers do this simply and affordably," said Steve
Rabuchin, Director of Developer Relations, Amazon Web Services. "We hope to
see even more developers build applications for Facebook using Amazon Web
Services as a result of Bay Partners' new support system for
"We have an active development community of several thousand Ajax
developers, who now regard Facebook as a viable platform upon which to
build compelling apps," said Dion Almaer, founder of Ajaxian.com, recently
acquired by TechTarget. "We're excited to collaborate with Bay Partners to
further the AppFactory ecosystem."
"Not only is Facebook's business move brilliant, but from a technical
standpoint, the API is deep, sophisticated and well-architected, yet also
easy to use and adopt," said Salil Deshpande. "Due to Facebook's lead,
other social networks, when they open up their APIs, may be forced to
design their APIs to be at least compatible, if not identical to Facebook's
-- thus aggressively investing in Facebook applications is completely
Bay's "AppFactory" program is being led by Salil Deshpande and Angela
Strange. Entrepreneurs interested in applying for Factory grants should
contact Deshpande or Strange at firstname.lastname@example.org.
More information about Bay Partners' AppFactory program can be found
About Bay Partners
Bay Partners is a Silicon Valley-based early stage venture capital firm
that has been building successful technology companies since 1976, and has
funded more than 350 startups. Notable successes from Bay's portfolio
include Brocade, Concord Communications, Exodus, Sonicwall, Placeware,
Informatica, Weblogic, Digital Island and NetScaler. Bay is currently
investing its eleventh venture fund and has over $1 billion under
management. Bay invests in early stage companies either through the seed
track ($250K-$750K) in bold out-of-the-box capital-efficient ideas or
through the more typical early stage track ($1M-$7M) in early product
development stage of a company. With the launch of the AppFactory, Bay also
invests ($25K-$250K) in Facebook Applications.
Facebook(R) is a registered trademark of Facebook Inc.
SOURCE Bay Partners