- 7 years ago


Back in October Facebook announced the 25 winners of fbFund, each of which has received $25,000 to develop their application further. Now the fbFund has announed 5 winners who will receive an additional $225,000 and there is a Canadian in the mix – Albert Lai of Kongagent.

Kontagent is the leading viral analytics platform for social network application developers. Kontagent analytics provides deep social data visualization and analysis that delivers actionable insights delivered via a hosted, on-demand service.

Lai sold his first internet company, the MyDesktop Network while in his teens to JupiterMedia (JUPM) for 7 digits in cash. Most recently he was the founder/CEO of BubbleShare, a photo-sharing company sold to Kaboose (KAB) in 2007. He is now hard at work on Kontagent, his 5th Internet startup.

fbFund is a 10 million dollar seed fund which is a little different than traditional seed funds; the startups that receive grants keep 100% equity, however Facebook, together with its partners – venture capital firms Accel Partners and Founders Fund – has the first rights to invest in these startups in case they seek additional funding. Read more about the 5 winners on Mashable.