Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

VCs bet on iPhone apps makers

Posted by: John Tozzi on July 16, 2008

Top iPhone Apps

A glance at the top 10 iPhone apps this morning shows eight that come from startups and only two -– Reuters and ESPN –- from big companies.

I forgot to mention below the $100 million iFund that Kleiner Perkins Caufield & Byers announced in March to fund companies developing iPhone applications. Matt Murphy from KPCB told me that the iFund has backed five companies so far, but only two of the deals have been announced: Pelago and iControl.

Pelago makes an app called Whrrl, which lets friends connect on the go and share information about people, places and events. (For example, find which restaurants your friends like in a particular neighborhood.) Pelago was already a KPCB-backed company before the firm’s iFund led a $15 million series B round. The other announced iFund investment, iControl, also landed a $15 million series B round in April. iControl makes software for home security companies that lets customers monitor their homes remotely.

So there’s money out there for entrepreneurs making mobile apps, but it is of course highly competitive. KPCB’s Murphy says the firm has received more than 2,200 business plans submitted for the iFund, which he says is 20 times what they would have seen for mobile applications in a similar period before announcing the fund.

Post a comment



What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

BW Mall - Sponsored Links

Buy a link now!