Internet & Media

Tencent launches QQ Login, a Facebook Connect type service providing access to the 600M Chinese users on the service.

Amazon Web Services’ EC2 platform suffered a major 3 day outage, causing many sites to fail to load. Amazon hasn’t commented on the cause of the failure.

PSN, Sony’s gamer network with 70M users, has suffered more than 4 days of downtime.

The US Government has seized three top poker sites (PokerStars, FullTilt Poker and Absolute) and has filed a $3B civil suit alleging fraud.

Dropbox announces 25M users, up from 4M in January of last year.

GroupOn hires Google executive Margo Georgiadis as its COO to replace Rob Solomon.

Amazon announced the launch of a lending library for Kindle books to allow Kindle users to borrow books for short periods of time from libraries and friends. Amazon has selected OverDrive to power the feature which will be live by end of year.

HBO is launching a TVEverywhere enabled web and mobile application, following ESPN and many others.

The NYTimes announced 100,000 subscribers since the launch of the pay wall in March. The NYTimes has an offline circulation of 950,000 on weekdays and 1.4M on weekends.


Android has won market share leadership in France (36%), Germany (26%) and UK (38%) according to Kantar Media.

Apple has changed several app store dynamics first by rejecting applications using incentivized CPI downloads for monetization, in effect, banning TapJoy and other offer wall providers from the iOS store and second by altering the ranking algorithm to consider DAU and app ratings. Also, Apple has filed suit against Samsung for violating look and feel patents relating to the iPhone with Samsung’s Android devices.

FourSquare releases a geospatial location sharing feature to compete with Color. The company is rumored to be raising a round at a $500M valuation.

The NYTimes and Betaworks released News.me, a subscription iPad application for viewing news. News.me ranks and socially filters content for users. The service costs $35 per year.

Visa is testing instant mobile discounts with the Gap. A customer can sign up to receive coupons via mobile phone. The coupon is applied at transaction time by Visa.


Apple reported revenue of $24.7B (+83%) with earnings of $6B (+95%). In Q1, Apple sold 18.7M iPhones (113%), 3.8M Macs and 4.7M iPads (lower than the estimated 6.2M). In total Apple has sold 189M iOS devices to date. AT&T sold 3.6M iPhones and Verizon 2.2M. The iTunes store generated $1.4B in gross revenue.

Yahoo announced $1.1B (-6% y/y) in revenue and $210M in profit (-28%), which exceeded expectations.

Search portal Yahoo has just released its 1st quarter 2011 earnings. Yahoo’s non-GAAP revenue for the first quarter of 2011 was $1.064 billion versus $1.13 billion reported for the first quarter of 2010. This represents a 6% year over year decrease.


Viddy, an Instagram for video, raises a $1.5M seed from Battery and Bessemer.

Concur invests $40M in ClearTrip, an Indian OTA.

T.Rowe Price announced investments of $191M in Facebook, $71M in Zynga and $86M in Groupon.

Ticketfly has now raised $15 million in funding, with the latest round led by Mohr Davidow Ventures.

Nutanix, a virtualized storage company, announced $13.2M investment from Lightspeed.g $13.2 million in a first round of institutional funding. from Lightspeed.

Funding Circle, a provider of peer-to-peer lending for SMBS in the UK, raised £2.5m from Index Ventures.

ScoreBig, a discounted ticket site, raised $14M from USVP.

TreatFeed, a social shopping site, raised $5.4M from NVP.

Listia, a market place for free things, raised $1.75B from AH, SV Angel, Founder Collective and others.

Big Switch Networks, network virtualization company based on the OpenFlow standard, raised $13.8M from Index and Khosla Ventures.


GroupOn acquires Whrrl, makers of Pelago, for an undisclosed amount. The company had raised $29M from KPCB.

Responsys, a Redpoint company, IPOs at $15 per share.

Into Now, a Redpoint company, is acquired by Yahoo 3 months after launch.

Zillow has filed for a $52M IPO with $32M in ttm revenue and $6.8M loss.

Envivio has filed for a $69M IPO. The company compresses and delivers web video. The company generated $30M in ttm revenue, up from $16M in 2009.

Kohort, a stealth NYC startup, raises $3M in seed from IA Ventures, RRE and others.

Walmart acquires Kosmix, a social media company, for a rumored $300M.

Chris DeWolfe’s MindJolt acquires SGN.

Kobo Inc. has raised C$50 million (US$53 million) in a new funding round from an undisclosed investor.

EBay acquired Where, a mobile ad network and local search company.

Gree, a publicly traded Japanese mobile gaming company, acquires OpenFeint for $104M, with $100M in earnout.

Online marketing company ValueClick has acquired mobile ad network Greystripe for $75 million


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