Facebook Creates US$10 Million Fund To Developers To Create Apps

USA- Facebook has launched FB Fund, a US$10 million fund from Founders Fund and Accel Partners that will help fund developers and startups apps that work with Facebook, according to CEO Mark Zuckerberg. This was announced at, the TechCrunch40 conference. Facebook is not putting in cash in the fund, but Zuckerberg will be on the advisory board. The will will issue, grants not loans of between $25k and $250k, and these will not be equity investments. Talk about a sweet pot.