
There has been speculation recently that investors are no longer putting money into social networking application companies. That is not the case.
Today at the f8 conference, Facebook chief executive Mark Zuckerberg said that more than $200 million in funding had already been invested in third-party applications to date. He announced that Flixster, a movie review application (and site), has just raised $6 million from investment bank Allen & Co. and other investors. Last night, game application builder Zynga said that it had raised a new $29 million round led by Kleiner Perkins.
Zynga and many other gaming application companies are starting to see hundreds of thousands if not millions of dollars in revenue from virtual goods, as I wrote yesterday. Zynga, for example, has a large Texas HoldEm Poker application with a vibrant virtual currency that helps it make real money. Zuckerberg noted today that Zynga has four times more people playing the poker application than there are hotel rooms in Vegas.
Facebook has also been doing its own investing through its fbFund, in the following companies announced today (pictured): Coursefeed, Hotberry, Zimride, J2Play, Challenge, Podclass, ConnectedWeddings, MyListo, LuckyCal and Trazzler.
Facebook is also announcing a new funding competition. It will select 25 finalists, that will get 25,000 in seed funding. Then, users will vote to fund the top five applications with $250,000.
Top Stories
- The Huffington Post confirms $25M third round
- A new, elaborate $20 billion deal for ...
- Mobile ad spending rises as iPhone effect ...
- Joost is loosed on the iPhone. Looks ...
- Breaking: Google News doesn't break tech news
Recent Guest Columnists
- Javier Rojas
The art of the bootstrap - Clifford Reid
The genomic frontier: Personalized medicine in action - Bruce Cleveland
Double down? Spin in? New questions for a new economy
Job Board
- Regional Vice President of Sales
at Marketing Technology Solutions (Jersey City, NJ) - Interactive Production Designer
at EyeWonder, Inc (233 Peachtree Street Atlanta, GA 30303) - Alliance Marketing Consultant BP
at Sun Microsystems (MENLO PARK, CA) - More Jobs » | Post a Job »
Links
Venturebeat Writers
- Matt Marshall, Editor-in-Chief
- Dean Takahashi, Lead Writer, DigitalMedia
- Eric Eldon, Editor, DigitalMedia
- MG Siegler, Writer, DigitalMedia
- Anthony Ha, Writer, VentureBeat
- Chris Morrison, Writer, CleanTech
- For advertising, contact .
- Log in

12:54 am
FaceBook.com Clone Script | said:
[...] Facebook: Investors still pumping money into social networking applications [...]
10:26 am
MyListo offers social shopping application on Facebook » VentureBeat said:
[...] mentioned earlier that MyListo was a recipient of money from the Facebook Fund. The grant (not equity) was just [...]
11:26 am
peHUB » Archive » peHUB First Read said:
[...] Mark Zuckerberg said yesterday that more than $200 million has been invested in social networking app developers. Assuming that [...]