What you need to know - 07/15/11

Ronny Kerr · July 15, 2011 · Short URL: https://vator.tv/n/1cc3

Google reported a 32 percent increase in revenue; Amazon sets Android tablet fo October (report)

Amazon is reportedly gearing up to release its Android-powered tablet in October 2011.

Lots of big Google news. The company reported Q2 2011 revenues of $9.03 billion, representing a 32% increase over last year, when the company reported Q2 2010 revenues of $6.82 billion.

Google also revealed that its new social network, Google+, has already accrued 10 million members, who are supposedly sharing one billion items every day. (Does that last statistic seem absurdly high, maybe a little skewed? Here's why.)

You might have already guessed that Electronic Arts' (potentially) $1.3 billion purchase of casual gaming company PopCap Games was intended largely to thwart Zynga's growing dominance. You might not have known, however, that Zynga also approached the company with an acquisition offer of (reportedly) $1 billion.

Video discovery and sharing site Shelby.tv raised $1.5 million.

Tech support gurus SupportSpace raised $12 million in funding from Gemini, BRM and Emergence Capital.

Real estate marketplace Zillow increased the price of its IPO shares from $12-14 per share to $16-18 per share, giving the company a valuation of $485 million.