Internet heavyweights launch social media fund

TechCrunch reporter Michael Arrington has good news for young entrepreneurs working to develop applications and services for the new era of social web.

Last Thursday, venture capital firm Kleiner Perkins launched a $250 million fund to invest in social networking start-ups in all industries — consumer, enterprise, health and mobile. 

Initial “sFund” investors include Amazon, Comcast, Facebook and Zynga Gaming Systems.

Click here to read more.

Know of a killer new business sFund should invest in? Tell us in the comment section below.

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