Archive for category Web 2.0

LivingSocial raises $25 million

LivingSocial, the Groupon competitor, has announced that they’ve raised $25 million in Venture Capital series B round from U.S. Venture Partners, Grotech Ventures, and Revolution, LLC.

LivingSocial are best known for their Facebook apps like Visual Bookshelf, Pick Your 5, and Polls. They’re now moving into deals and daily deals market, which is dominated by Groupon, which recently announced that they’ve raised $30 million.

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UK’s Autoquake raises £6m

Autoquake, the online used car dealer in the United Kingdom, has announced that they’ve secured £6 million in Venture Capital from Accel Partners and Highland Capital Partners, bringing Autoquake’s total funding to £20 million, or $30 million USD.

Autoquake launched in 2005 and is one of the leading online used car retailers, where it usually acquires fleets of used cars from corporations such as rental agencies, and sells them in virtual showrooms. They expect to sell 15,000 cars in 2010.

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10 billionth Tweet posted


Somewhere over the past few hours, the 10 billionth Tweet was posted on Twitter, at least according to the site Gigatweet, which looks at the ID number of each tweet, which usually corresponds the number tweet it is.

YouTube adds auto-captioning for videos


YouTube has added auto-captioning for videos and other enhancements for people with disabilities, the company revealed at a recent conference session in Berkley, CA, held with folks from YouTube, Google, and California School for the Deaf. The new feature makes it easier to caption your videos on YouTube, however, you cannot caption other’s videos (for obvious reasons).

WordPress adds PuSH to its blogs

WordPress has just given a great, new feature to the over 10 million blogs it hosts on WordPress.com. The new feature, called PuSH, short for Pubsubhubbub, is a protocol to speed up RSS feeds and new posts.

From now on, when new blog posts are published, they are “pushed” to RSS feedreaders like Feedburner, instead of waiting for the reader to “ping” the blog.

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AOL to invest $50 million in Patch.com

Last year, AOL acquired Patch.com, the very, very local news site, which for now only covers a few towns in New York, New Jersey and California. However, AOL recently revealed that it’s investing heavily in the local news market, by pouring over $50 million into Patch.com. AOL acquired Patch in June of last year for $7 million in cash.

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MOG raises $9.5 million

Music Streaming Service MOG has announced that they’ve raised $9.5 million in a new round of funding, after previously raising $10 million.

The service launched last December and offers users to stream any music for $5 a month and in good 256kbps audio quality.

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Match.com acquires Singlesnet

After days of rumors, it’s been confirmed that online dating site Match.com has acquired Singlesnet for an undisclosed sum. Match.com says the acquisition is more a “value acquisition than a strategic one”, and assures that Singlesnet will continue to operate independently.

Last year, Match.com bought another competitor, People Media, for a cool $80 million. The Singlesnet deal is rumored to be half that.

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