Development of applications for Apple’s iPhone has already proven to be big business. Already, 100,000,000 apps have been downloaded in just 60 days since the iPhone 3G’s launch and Apple chief executive Steve Jobs has hinted that he thought the App Store could be a billion dollar marketplace. All of this likely means that venture capital firm Kleiner Perkins Caufield & Byers decision to start the iFund, a $100 million fund to spur iPhone app development has been a good bet. Today, the firm is launching a blog about the fund.
Specifically, Kleiner Perkins says it’s starting the iFundVC blog “to share (and hear) perspectives around the iPhone and emerging open mobile ecosystem. We’ve been blown away by the amount of entrepreneurial activity in mobile since launching the iFund on March 6th.”
In his initial post, Kleiner Perkins partner Matt Murphy also shares some interesting numbers. Since the fund’s launch, the firm has received over 2700 plans. It says this is 20 times the amount it received during the same time period last year — indicating that many proposals are simply interested in the iPhone. Kleiner Perkins has only funded five companies so far with the iFund money, and only one of those, Pelago, with its location-based network Whrrl, has been released so far.
Also of note from the post is this blurb:
“According to our estimates and M:Metrics data, that’s more iPhone application downloads in 30 days than all US carriers combined have in a quarter.* That means a relatively small base of handsets (~12M, mostly US) is dramatically outperforming the other 250M.”
Our upcoming GrowthBeat event — August 5-6 in San Francisco — is exploring the data, apps, and science of successful marketing. Get the scoop here, and grab your tickets before they're gone!