366 companies raised $2.1B in VC funding in Q2 2010 according to VentureDeal. Dollars invested increased 17% y/y and deal volume increased 30% implying average investment amounts fell.
Internet & Media
Twitter receives 90M Tweets per day across its 150M users, representing 100% annualized growth for 2010.
Online local advertising estimated to increase 26% to $20B this year according to BIA/Kelsey making local spend the fastest growing category in the online market which will grow by only 2% in 2010
Halo:Reach announces $200M in revenue in the first day of release suggesting 3.3M unit sales in just one day. Halo 3 generated $170M in the first day of sales. This underscores the massive revenue generated by highly anticipated games. Call of Duty: Modern Warefare 2 has yielded about $2B in cumulative sales to date.
Gilt launches Gilt City in 6 cities while the Whitepages launched DealPop in 3 cities. Both are competing with GroupOn.
Pew Research determined that only 22% of mobile subscribers with applications use them. 76% use their cell phones to take pictures, 72% to send and receive texts, 38% to access the Internet, but only 29% frequently use an app. In fact, even video recording (34%) and music playback (33%) rank higher on the list indicating that applicaitons still have significant inroads to make.
The average US mobile consumer is using 230MB of data per month up 50% from last year. With 31% smart phone penetration in the US, carrier backhaul spending is forecasted to increase 41% to $117B in 2014 up from 2009’s $83B.
Verizon has released a data backup/recovery solution called VCast Media manager for $2.99 per month. This product will compete directly with Dropbox. Additionally, Verizon announced several Android enteprise features including remote wipe and administration powered by Good Technologies. These additional services will increase margins on data intensive devices.
Samsung launches the Galaxy Tab this week, the first Android tablet with comparable functionality to Android.
Sony revealed they have sold 38M PS3s and 62M PSPs globally, roughly equivalent to 66% of iPhones and iPod touches.
Skyhook sues Google for anti-competitive behavior. Specifically, Skyhook is protesting that Google requires OEMs use Google Location Service as a condition of the Android contract.
Google is rumored to be distributing mobile devices to SMBs in order to spur demand for Google services including AdWords.
Financings and M&A
Menlo Ventures invests $9M in Bloomspot, a deal site focusing on high margin restaurants.