IPhone Apps: A Launch Point for a New Wave of Tech Giants?

Tuesday Dec 22nd 2009 by Datamation.com Staff

A "gold-rush mentality' is inspiring hordes of developers and some Silicon Valley backers to get into the app business.

LA Times: The ability to launch apps on iPhone has fundamentally changed the game for many Silicon Valley startups. For a growing number of venture capitalists and software developers, iPhone apps are more than just fun toys or a way to make a quick buck--they see the iPhone as "the platform on which to build the next generation of big tech companies."

"I absolutely think there will be large public companies built around this ecosystem," said Matt Murphy, who runs Kleiner Perkins Caufield & Byers' $100-million iFund, created in collaboration with Apple to invest in start-ups developing apps for the iPhone and iPod Touch.

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