

World's First Facebook Apps VC - nreece
http://www.altura.com/

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karzeem
Sometimes I feel sorry for VCs. It's not easy to come up with ways to invest
your fund that sound at least halfway coherent. These guys have clearly run
out of ideas.

The mistake people make is conflating the ideas of a social network and a
social networking site. The former is simply an awareness of who and what you
like, and it's hugely useful to almost any sort of application. The latter is
a site that makes use of that information, with Facebook being the most
prominent example.

The option for a company building a social app is simple. Build it on your own
site, with its own interface, and tie into social information from all of a
user's sites; or build it on Facebook, with Facebook's interface, and only use
the user information that lives on Facebook.

Why on earth would someone choose the latter? Facebook is great, but the hype
is a little bit silly. For instance, Digg and Delicious both made Facebook
apps. They average less than 175 users a day.

~~~
comatose_kid
Yes indeed...those poor VCs and their private jets...

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nreece
On July 4, 2007, Altura Ventures announced the "Altura 1 Facebook Investment
Fund," becoming the world's first Facebook-only venture capital firm. On July
10, 2007 Bay Partners announced appfactory, a venture capital seed program
dedicated solely to Facebook applications.

Ref: <http://en.wikipedia.org/wiki/Facebook#Applications>

