Palo Alto, Calif. - Online social network Facebook on Wednesday announced that twenty-five teams developing applications for its platform will each receive $25,000 grants from its $10 million fbFund to help build businesses on Facebook or around the Web with Facebook Connect.

These 25 are also now eligible to receive an additional $225,000 grant each, with five to be selected by Facebook users and the fbFund advisory council in December.

Recipients of the initial grants include drink-gifting application BarTab; college search application Check My Campus; and mobile price comparison service Pongr; Silicon Alley Insider has more complete descriptions of the grant winners' projects.

Related Links:
http://www.facebook.com/press/releases.php?p=62315

http://snipurl.com/4eahw (Silicon Alley Insider)