Comcast Interactive Capital (CIC), Comcast's venture fund, was part of an exciting announcement today at Facebook's headquarters in Palo Alto, where the sFund was introduced.
We are delighted to join Facebook, Amazon, Zynga, Liberty Media, and Allen & Co. as investors in Kleiner Perkins Caufield & Byers new sFund, a $250 million initiative designed to invest in web entrepreneurs in the online social application and services space. In addition to our investment, CIC will provide the fund's entrepreneurs with access to Comcast's resources, teams, and relationships.
Undoubtedly, social networking is changing the way people discover, manage and consume content. At CIC, we believe successful investments in social innovation will ultimately create better products and services for Comcast's customers.
One recent way that Comcast is investing in social businesses is through Tunerfish (www.tunerfish.com). Created by a team of entrepreneurs in Silicon Valley, Tunerfish is a social discovery application that enables you to share the shows you are watching directly with your friends on your social network of choice and see which shows, in real time, are the most popular among your friends in your networks. I encourage you to check it out.
We are thrilled to be investing in the sFund alongside our partner companies and look forward to bringing Comcast's technology and entertainment resources to help the fund's entrepreneurs develop new social applications.