Riding the Nook wave to freedom, Barnes & Noble's 2012 Q1 financial results report that in-store sales continue to decline, while digital sales have quadrupled.

Social marketing company Closely has raised $3.6 million in equity, according to an SEC form filed earlier this month.

Gimv, one of the main investment companies in Europe, is spearheading the second financing round to the tune of $25 million in Ebuzzing, formerly Wikio Group, the reference social media group in Europe.

RootMusic, creator of the Facebook music sharing and discovery app BandPage, on closed a $16 million Series B round led by GGV Capital, with help from new investor Northgate Capital and existing investor Mohr Davidow Ventures.

SMS GupShup, an Indian social network and group messaging provider, raised a $10 million Series E round from Tenaya Capital, which joins existing investors Globespan Capital Partners, Helion Ventures and Charles River Ventures.

CNN has acquired the iMag Zite, although the terms of the deal have not been disclosed, so no word on whether CNN really did shell out $25 million.

Zynga rolled out a trailer for Adventure World, a new Facebook game shaping up to be more of an exploration and adventure game than many other Zynga games.