Facebook: internal venture capital unit and multimillion-dollar venture capital fund
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Facebook: internal venture capital unit and multimillion-dollar venture capital fund
The company has made several successful outright acquisitions of start-ups in the past, including Instagram and WhatsApp.
Six years after Facebook abandoned its internal creed of “move fast and break things,” the company has quietly launched an internal venture capital unit that’s presumably tasked with finding start-ups to do just that.
In a statement to Financial News's sister publication Barron’s, Facebook said: “Just as the [New Product Experimentation] group experiments with products, the team is also experimenting with ways to support external start-ups, including with capital. This is an extension of what Facebook has already been doing through grants for hackathons and contributions to accelerators for years.”
The company declined to comment further on the venture capital unit.
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