iPhone developers looking to get their hands on a slice of the iFund pie, may need to hurry as the KPCB money pit may be drying up faster than expected.
Announced in March of 2008, the iFund is a $100M investment initiative set in place to contribute finances to furthering application development for the iPhone and iPod touch platform. AlleyInsider is reporting that the Kleiner Perkins Caulfield & Byers (KPCB) backed iFund has now dwindled by one third of its original $100 million. From over 2,700 pitches they have received, iFund manager, Matt Murphy, has stated that over $30 million has gone to only five different applications developers over the past six months.
Thus far the iFund has helped Pelago, iControl (coming Q1 09), ng:moco (first game coming this month), GOGII (coming Q4 08), and an unannounced company (coming Q1 09).
