What is this growing on my rock

crazymman

Reefing newb
I got home from work today and there is some white fungus looking stuff growing rapidly on my rock anyone know what this is? It's spreading really fast.
 
Haha guess it's not mold then. It doesent really look like any of that but maybe cause it's so new. I guess I'll just let it grow and see what it looks like I'll try to post a pic later.
 
I think that may be it. The rock I got with the setup has quite a bit of dead what looks like algae. If it it a fungus what should I do about it? I touched it and it feels slippery and slimey. Not spoungey. The rocks do have coraline algae on them.
 
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