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It’s more about encouraging a new generation of entrepreneurs that can really reach massive scale. "For us, it's less about making a documentary about what Silicon Valley is about.
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Lightspeed is committing over $10 million dollars to fund the winning companies in "Planet of the Apps." Lightspeed is a good fit as a VC firm for the show, because it has had a lot of success finding consumer software companies. "There will probably be three or four of us that will meet with the companies together, hear their stories, deliberate about a potential investment and make a decision," Lightspeed partner Jeremy Liew told Business Insider. Simply getting a pitch meeting with Lightspeed is a big goal for many Silicon Valley startups, and that's exactly the opportunity "Planet of the Apps" contestents will have. The idea behind "Planet of the Apps" is that budding software developers will create an app for iPhones and iPads on reality TV.Īs the show progresses, they will be mentored by celebrity-entrepreneurs like Will.i.am and Jessica Alba, and if their idea is good enough, their app will get featured placement in the Apple App Store.īut if their idea is really good, they could get funding from Lightspeed Venture Partners, one of Silicon Valley's top-tier VC firm - famous for finding great investments like Snapchat.
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Jeremy Liew is a partner at Lightspeed Venture Partners who found hot startups like Snapchat and Whisper before everyone else.Īpple's upcoming TV show about apps now has a venture partner to invest in app makers.
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