I'd like to know more about Bay Partners, the VC firm behind this. They don't appear on pg's Top VCs list (http://ycombinator.com/topvcs.html), and there aren't any names that jump out at me in their portfolio, but neither of those mean much. Any info?

Also, if anyone has a personal contact there that they want to introduce me to, I would love that. My email is in my profile. Thanks.

this is the first sign of desperation from the VC world. the historical trends of the capital requirements of developing an "application" are becoming so low that venture capitalists will soon become obsolete. the launch of the facebook platform was the nail in the coffin for VCs. power to the hackers.

settle down there fast guy... i wouldnt exactly call the facebook platform the nail in the coffin for VCs.

this is also not desperation... they're testing the water, trying something new on the cheap. i think its a smart move.

> trying something new on the cheap.

Indeed. There is little risk given the dollar value.

I don't think there's been a Facebook app exit of more than $100,000, yet they're willing to provide up to $250,000 worth of funding. So why are they doing this?

Facebook apps have only existed for about two months. Do you think they will continue to be (for the most part) valueless playthings? I don't. It looks like Bay Partners doesn't.

What kind of valued app do you think will emerge from facebook?

Irrational exuberance.

Well, that too :)

Perhaps they want to test good programmers.