What you need to know - Friday 10/08/10

Bit.ly raised $10 million, Yipit raised $1.3 million, TubeMogul raised $1 million, iPhone moving?

TubeMogle raised $1 million in funding. Specific investors were not named. TubeMogle is a video analytics and advertising service whose customers include CBS Interactive, The New York Times, Microsoft and Red Bull.

Major tech companies argue privacy practices law. The proposed legislation, which would require all Internet provides to be able to monitor all traffic on their network, in case of a wiretap, is being contested by companies like Microsoft Corp., Yahoo Inc. and AOL Inc. The reason cited by the companies is the technically difficulty and economically impracticality of the task.

PayPal's "add money from checks" feature garners over $100,000 in deposits in its first 36 hours in operation. The feature, which is an iPhone app, allows users to scan and deposit a check digitally.

Verizon's iPhone rumor continues on. A new and seemingly more solid round of speculation sets the date for iPhones' release at early next year. If this does happen, Verizon would be the first carrier to get the iPhone outside of Apple's exclusive deal with AT&T.

Bit.ly, a URL shortening service, raised a $10 million Series B financing round led by RRE Ventures.

Plannr is shutting down. The site, now owned by Google, will completely remove/delete all data in 30 days. Official notification was made in an email to end users.

Yipit raised $1.3 million in an A series of funding. Yipit creates emails with useful shopping deals aggregated from Groupon.

MMORPG (massively mulitplayer online role playing game) World of Warcraft passed the 12 million paid user mark. This mark makes it the biggest subscription online game. WoW is owned by Blizzard Entertainment.