Bay is a typical Silicon Valley venture firm, operating three large funds. AppFactory will draw resources from the latest, a $300 million pile of cash and commitments that Bay will funnel, in chunks as small as $25,000, to promising Facebook developers.
Unlike its larger and more traditional technology investments, Bay will not run its AppFactory candidates through weeks or months of due diligence. At the funding levels it's thinking about, it's not worth the effort. In … Read more