VCs pass $100M in iPhone funding
Among companies developing solely for the iPhone, social network startups have drawn more VC investment money than games, according to startup investment tracker Chubby Brain’s latest set of charts. Listing 22 rounds of funding for 17 companies, Chubby accounted for over $100 million in investments, with a median level of $3.45 million.
The most active investor is Kleiner Perkins Caufield and Byers, which has a $100 million iFund from which it has invested in at least five companies — Booyah, GOGII, iControl, ng:moco, and Pelago. The iFund accounted for the largest deals Chubby has tracked: iControl’s series B of $20 .5 million, and Pegalo’s series B of $15 million.
The most gossip-worthy chart in Chubby’s report shows that the number of iPhones sold follows the same curve as iPhone startup investments but at a six month lag. There aren’t enough data points to prove yet that investment drives sales, but it’s a great topic for both parties and business meetings in the Valley.
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About the Author, Paul Boutin
Paul (paul@venturebeat.com) covers Apple & the iPhone, social networks & social media, digital music & video, and any crazy Internet story. Paul wrote and edited for Valleywag from 2006-2008, after several years with Wired magazine and Slate. He writes regularly for The New York Times' technology section and sometimes for Wired and The Wall Street Journal. He studied computer science at MIT in the early 1980s, and worked as a software developer and network administrator for 15 years before becoming a professional writer. Follow him on Twitter at @paulboutin, and follow VentureBeat on Twitter at @venturebeat.
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