AOL plans to cut 20 percent of its workforce, or more than 900 employees out of 5000 globally, as part of the company’s plan to restructure and resuscitate itself.
Bandwidth.com, provider of Internet and VoIP services to small and medium sized businesses, raised about $20.5 million in funding.
Photo sharing site DailyBooth raised a $6 million Series A round of financing led by Ignition Partners, as well as continued participation from Sequoia Capital and a group of angel investors
On the heels of the launch of Foursquare 3.0, the location service’s merchant platform has been completely overhauled to give the 250,000 verified businesses on Foursquare more ways to hone their relationships with customers.
In an effort to clean up the world’s cluttered contact list, WhitePages launched Hiya, an app that will leverage WhitePages’ database of information on 200 million adults to fill in the gaps of missing information in users’ contact lists, as well as merge duplicate contacts.
Marketing platform MediaMath raised $14 million in Series B funding.
Mobile learning games developer MindSnacks secured $1.2 million in a funding round led by Felicis Ventures, with 500 Startups (Dave McClure) and Mitch Kapor also participating.
NextSpace, provider of “coworking space” for full-time and part-time commuters, raised $425,000 in angel funding from a mix of investors.
Rovio, creator of the Angry Birds entertainment franchise, raised a $42 million Series A round co-led by Accel Partners and Atomico Ventures, with participation from super angel fund Felicis Ventures.
SnagAJob.com, a community of hourly workers and provider of work management solutions, secured $27 million in Series C funding led by August Capital.
Stack Exchange, a Q&A network of sites formerly known as Stack Overflow, secured $12 million in a Series B round led by Index Ventures, with help from Spark Capital and Union Square Ventures.
StartupDigest is now sponsored by the Kaufmann Foundation, which is providing the startup community service with $200,000 to help it scale operations.
Social discovery engine StumbleUpon secured a $17 million Series B round of funding from Accel Partners, August Capital, DAG Ventures, First Round Capital and Sherpalo Ventures.
Today’s featured entrepreneur is Tom Patterson, CEO and president ofWize.com.
