Techcrunch is reporting live from a press conference that “Kleiner Perkins is doubling its iFund to $200 million for more than a dozen iPad applications in May. iFund portfolio companies include Booyah, Cooliris, GOGII, InMobi, ngmoco, Pinger, Shazam, shopkick, and Zynga.”
“Think back to March 6, 2008, the iFund was a little risky. There was no iPhone 3G. We now have 14 ventures in the iFund, 3 are stealth. 8 of them are here today. They’re kicking ass.
There are 100 million downloads, and there will be over $100 million in revenues from these companies this year. We’ve raised $330 million raised for them. But on the eve of the iPad, the iFund is out of money. To quote Bill Campbell, “You’ve gotta have the fucking money.” So we’re doubling down the iFund to $200 million.
This Saturday the iFund arrives, we believe it’s going to rule the world. I’ve held it, caressed it. It feels like you’re touching the future.
We’re going into a brave new world. From the old world of Windows interfaces to touch. The swoosh of liquidity. The iPad is direct, it’s natural. WYTIWis — what you touch, is what is.”
I want some of that money! 🙂
(Photo credit: snap from the iFund site)