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VETERAN MEDIA AND INTERNET EXECUTIVES LAUNCH MULTIMILLION DOLLAR “APPFUND” TO FINANCE, DEVELOP AND LAUNCH IPAD APPLICATIONS

AppFund Provides Seed Capital and Expertise to iPad and Mobile Tablet Application Developers

New York, New York February 4 -- Fueling a burgeoning marketplace with development capital, CNET and E! Online co-founder Kevin Wendle has teamed with MusicNation and Original Signal co-founder Daniel Klaus to form AppFund, a new company designed to help entrepreneurs create and launch iPad and other Tablet based applications. AppFund will provide funding and expertise to enable the development community to build the very applications that will support the long-term success of the iPad. Headquartered in New York City, AppFund will evaluate opportunities from developers around the world.

“We believe that the iPad is a revolutionary device with the ability to transform everything from the way consumers experience content, media and social networking to the way businesses can use applications to revolutionize their operations. The possibilities for this device given its size and functionality could eclipse the application market for the smaller iPhone,” said Wendle and Klaus. “A whole new category of developers and entrepreneurs is going to emerge around the iPad and build applications that can be even more interactive and dynamic.”

AppFund investments will range from $5000 to $500,000 depending on the complexity of each application and its potential to tap into the mobile end user market. AppFund is encouraging developers to submit proposals immediately to be part of the launch of the first iPad applications by summer 2010.

Wendle and Klaus’ combined management team has launched more than a dozen successful media and technology companies, and together they bring years of management, creative and marketing expertise to each developer. The duo’s team will evaluate each proposal based on the application’s ability to be true utilities in everyday life for consumers, enterprise and small business, as well its scalability and viral marketing potential.

Wendle and Klaus continued, “This year alone Apple is reporting that iPhone applications will grow to over 200,000. In that there is an expectation that developers will port their ideas to the iPad, we look forward to providing funding and thought capital to the entrepreneurs willing and able to harness this new and exciting marketplace.”

AppFund is currently accepting written proposals at submissions@appfund.net.


For more information contact press@appfund.net.