What you need to know - Monday 9/20/10

Cuil closes, 7-inch iPad launching?, Facebook phone?, Internet brands bought for 50% premium

Rumors of a second inch iPad abound. The model, rumored to be seven inch, is believed to be a response to increased competition. 

Internet Brands was bought by the private equity investment firm, Hellman & Friedman Capital Partners VI, for a reported $640 million, a near 50% premium.

Google announces a new two-step verification process for their Google Apps product. The upgrade will be available for the Google Apps Premier, Education and Government Edition of Google Docs.

Rumors and denial swirl around the idea that Facebook is going to build a phone. They have, of course, denied any involvement in the project.

Flickr had its five billionth photo posted. The image is of a series of towers with the letter 'W' on top.

WeePlaces will integrate Gowalla and Facebook, giving users the ability to check their location announcements made on Foursquare, Gowalla, and Facebook Places at once.

Napster has been released for iOS. It will only work on devices running version 3.0 or later of the iOS.

iPhone has a release date for China. The machines will be available on September 25th. This date will also mark the opening of Apple Store® Hong Kong Plaza in Shanghai and Apple Store Xidan Joy City in Beijing.

Cirtas raises $10 million in Series A funding. NEA, Lightspeed Venture Partners and Amazon led the round. They also announced the launch of their Bluejet Cloud Storage Controller solution for medium to large enterprises product

Cuil is closing down. The search engine, first launched in 2008, is rumored to be shutting its doors forever, as its employees seek new work.

Facebook photos foil another criminal. Two arrests were made from the members of the rape gang in Vancouver.

Netezza, a data warehouse appliance company, was bought out by IBM. Big Blue made the buy for a reported $1.7 billion.