Facebook plans to build more social startups
0 Comments | Manila Bulletin, August 27, 2010
Social networking behemoth Facebook plans to develop more social startups, according to a report on Mashable.
Facebook announced a new partnership with Y Combinator, an investment firm for early stage startups. Y Combinator has chalked up many successes in the past, having invested early on in sites like Justin.tv, Reddit, Scribd, and one of my personal favorites, Dropbox.
Want to know more about the two protagonists, Facebook and Y Combinator in this partnership?
“”Facebook is an online social networking directory that connects people with friends and others who work, study and live around them. People use Facebook to keep up with friends, upload an unlimited number of photos, share links and videos, and learn more about the people they meet.
“Created and launched in February 2004 by Harvard students Mark Zuckerberg, Dustin Moskovitz and Chris Hughes, the site began as a network strictly for Harvard University. Two months later, the site expanded to include other Ivy League schools. After that, the college network slowly grew and by the end of 2004, Facebook had registered more than one million users.” answers.com
Y Combinator
Y Combinator is a venture fund which focuses on seed investments to startup companies. It offers financing as well as business consulting along with other opportunities to 2-4 person companies looking to take an idea to a product. Y Combinator looks for companies with “good” ideas over companies with experience and a business model. The company made its first investments in Summer 2005
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