What you need to know - Wednesday 01/12/11

Baynote raised $13M; Adknowledge $200M; Formspring $11.5M; M9 Defense $1.4M; Pose $1.6M

NetApp, a storage and data management solution company, will acquire Akorri Networks, the makers of data center management software.  The terms of the agreement were not disclosed, but this is an all-cash transaction.

Baynote, a maker of link-generating software, raised $13 million in its second round of funding. The round was led by SingTel Innov8.

Adknowledge, an online advertising company, announced its second fundraising in as many days.  The company raised  $200 million in a combination of debt and equity financing.

Fashiolista.com, an online fashion site,  raised $500,000 in seed funding from Atomico Ventures.

Formspring, a social site centered around user questions, raised  $11.5 million of funding in a round led by Redpoint Ventures. Baseline Ventures was also involved in the round.

M9 Defense, a materials science company based in the Seattle area, raised $1.4 million in a series A round of funding. No word was given on how the funds will be used.

Google’s Chrome browser will no longer  support  the H.264 video codec. Google hopes to go in the direction of  open codec technologies.

MySpace laid off 500 employees. This amounts to about 47% of MySpace's staff.

The much awaited Verizon iPhone will be available in stores in February. The announcement was made at a live event in New York.

Bullpen launches a new fund aimed at making investments bigger than $1 million, and smaller then $5 million. The fund has raised some capital an made its first investment.

Pose, a makers of a social fashion app for smartphones, raised $1.6 million from True Ventures, GRP Partners, and Founder Collective. Dave Morin and Shawn Fanning both also participated in the round.

SmallRivers, the makers of the Paper.li service, raised $2.1 million in funding. Investors in the round included Highland Capital Partners, SoftBank Capital and Endeavour Vision.

In Today's Entrepreneur, VatorNews profiled Mark Goldenson, the founder of Breakthrough.com, which won Vator Splash SF in September. Mark also founded PlayCafe, Woosh, Stanford Squash, and Stanford Bazaar.