Posted On: Oct 25, 2010

Excerpt:

"Facebook, Amazon and Zynga will invest in a fund to help entrepreneurs develop applications and services for a new era of the social web." "There's going to be an opportunity over the next five years or so to pick any industry and rethink it in a social way," said Facebook's Mark Zuckerberg. "We think that every industry is going to be fundamentally re-thought and designed around people."
That was a view backed by KPCB partner John Doerr, best known for investing in Amazon, Google and Netscape. "These social networks are going to go from a half a billion people to billions of people connected on the planet and so represents an extraordinarily exciting time on the internet," he told BBC News. "Think of it as a quarter-billion-dollar party. The third great wave of the internet is mobile and social together. It's going to be tectonic."
Amazon will help businesses get access to the company's web services platform for one year, as well as provide business and technical support.
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