Entrepreneurs eager to bring innovation to social networking application development now have a new potential resource to tap: a special fund set up by KPCB and a handful of tech giants, including Facebook. “KPCB is a top drawer firm. When they put money into something, it means they see a real future in it,” said Cabrini College marketing professor Scott Testa.

The new fund is a step up from these activities, though, and it potentially could mean a real boost for social media if other venture capitalists should follow suit, Scott Testa, a marketing professor at Cabrini College, told the E-Commerce Times. “KPCB is a top drawer firm. When they put money into something, it means they see a real future in it.”

The fund, along with its participating investors, also points to a firming up of valuations in this space, added Testa.

http://www.ecommercetimes.com/story/Tech-Titans-Create-250M-Kitty-for-Social-Startups-71090.html

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