Podcast Audio | Posted by Phil Leigh on September 20, 2007
If you would like to learn why venture capital firms are setting aside hundreds-of-millions-of-dollars to invest in companies developing applications for Facebook, this interview is for you.
Our guest today is Lee Lorenzen who is the CEO of Altura Ventures. Lee is one of the high-profile venture capitalists who is vigorously pursuing investment opportunities among companies developing applications for FaceBook.Along with the AppFactory fund from Bay Ventures, today’s guest from Altura Ventures established the Official Altura Ventures & AppFactory Facebook Investment Fund.
Altura takes an approach of partnering with Facebook entrepreneurs to help them launch the Facebook applications and get significant traction in the community quickly. The company advises the entrepreneurs as they go through the key transitions of their Facebook business from start-up, through fund-raising, to shipping and to liquidity event.
The AppFactory provides funding, technical and business resources to help entrepreneurs identify, build, and monetize the next generation of applications. Since AppFactory investments are bets on people and concepts, Bay is quck to make funding decisions. An entrepreneur’s time is best spent developing the application and experimenting with variables that affect adoption, virility, and usage, while exploring reasonable theories about monetization.
With Facebook’s new set of application programming interfaces (APIs) and services enabling outside developers to inject new features and content into the Facebook experience, the social networking company essentially introduced a Web 2.0 analog to a computer operating system. We label it a Social Operating System. Historically, the emergence of a dominant operating system induces a new ecosystem including a vast marketplace of applications.
Length: This audio interview is about 19 minutes long.