The Facebook NPE Team is best-known for its experimental stand-alone applications—the NPE stands for New Product Experimentation—but it is also quietly running a multimillion-dollar fund to invest in startups.
A Facebook spokesperson confirmed the existence of the fund, saying, “Just as the NPE group experiments with products, the team is also experimenting with ways to support external startups, including with capital. This is an extension of what Facebook has already been doing through grants for hackathons and contributions to accelerators for years.”
Ina
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