What you need to know - 03/04/11

General Atlantic might be buying 0.1% of Facebook at $65 billion valuation

Technology trends and news by Ronny Kerr
March 4, 2011
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Lithium ion battery developer Amprius secured a $25 million round of funding led by  IPV Capital, Kleiner Perkins Caufield & Byers, and Qian Neng Fund, along with existing investors Trident Capital, VantagePoint Venture Partners, Eric Schmidt, and Stanford University.

ContextLogic, building a sophisticated content discovery and distribution platform, raised $1.7 million in angel funding.

Investment firm General Atlantic has agreed to buy one tenth of one percent of Facebook in a transaction that values the social networking company at $65 billion, according to unnamed sources close to the deal.

Glue Networks, an enterprise-grade cloud networking service provider aiming to solve problems arising from an increasingly stay-at-home workforce, closed a $4.5 million Series A round of funding led by Keiretsu Forum, San Joaquin Angels, Sierra Angels, Sacramento Angels, Sand Hill Angels,and Harvard Angels.

MyBuys, provider of personalization for multi-channel retailers, direct brands, and digital agencies, closed a $20 million round of funding led by Rho Ventures.

Nielsen released a smart infographic portraying two axes of the smartphone market, operating system and manufacturer. Google Android, with 29 percent of the market, is beating both Apple iOS and RIM BlackBerry, each with 27 percent, as far as OS platforms are concerned.

Nintendo CEO Satoru Iwata lambasted smartphone and social network games for sacrificing quality in the name of producing tons of games for quick and easy money.

AOL will announce today that it has acquired hyperlocal news service for less than $10 million, according to reports.

Mobile app developer Ruckus Media Group secured $3.5 million in a Series A round led by Alsop Louie Partners along with private investors.

Twitter updated its iOS apps with a bunch of new features, including improved methods for uploading photos and following trends. Other Twitter news: don't look for their IPO this year because it's not coming.

Today's featured entreprenuer is David Johanson, CEO and co-founder of Pixures and Borderline Marketing

Vurve, an ad management system for small businesses, secured $4.5 million in Series A financing led by Spark Capital, with participation from Dave McClure and True Ventures.

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