Inc. (AMZN) and Facebook are among partners in a $250 million fund run by venture-capital firm Kleiner Perkins Caufield & Byers that will support entrepreneurs creating social-media applications and services.

The so-called sFund, which also includes cable giant Comcast Corp. (CMCSA) and social-gaming publisher Zynga will be run by Kleiner Perkins partner Bing Gordon, ex-chief creative officer at Electronics Arts Inc. (ERTS).

"The Web is being rebuilt around people, and we're at a point where any app, website, or device can be designed to be social from the ground up. We're focused on enabling entrepreneurs to build companies that can disrupt their industries," Facebook CEO Mark Zuckerberg said in a statement released by Kleiner Perkins.

The participation of, the world's largest online retailer, and Comcast signals how companies outside of social media are looking to benefit from the rapidly social-networking space. Facebook has more than 500 million users, half of whom log onto the site on a daily basis, the company says. last month attracted more than 148 million unique visitors, making it the fourth-largest U.S. site behind Google Inc. (GOOG), Yahoo Inc. (YHOO) and Microsoft Corp. (MSFT) sites, ComScore said in a separate statement Thursday.

Increase your money and finance knowledge from home

Introduction to Value Investing

Are you the next Warren Buffett?

View Course »

Reading a Stock Quote

Learn to read the ingredients of a stock.

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

Social networks have just become a means to data mine your information so it can be sold to third parties. Don't volunteer your personal information so that products can be better marketed to you.

October 25 2010 at 12:29 AM Report abuse rate up rate down Reply
Jennifer Gomez

sounds like the making of a ponzi scheme...

October 24 2010 at 8:27 PM Report abuse -1 rate up rate down Reply