What you need to know - 02/02/11

AOL reports 26 percent drop in Q4 earnings; Path raises $8.7 million from Kleiner Perkins, Index

Technology trends and news by Ronny Kerr
February 2, 2011
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AOL reported its Q4 2010 earnings: Overall, revenues fell 26 percent from $806.7 million in Q4 2009 to $596 million in the last quarter.


Applifier, a cross-promotion network for social game developers on  the Facebook platform, raised $2 million in seed funding from MHS Capital, PROfounders Capital, Tekes, Lifeline Ventures, and  angel  investors  Jyri Engeström, David Gardner and Lars Stenfeldt Hans

DeNA, a global mobile and social games company, reported its third quarter net earnings jumped 250 percent higher YoY to $359 million., the fabulous (previously fabulis) social network for gay men, launched a new daily deals offering, The Big Gay Deal of the Day--the first daily deals service designed exclusively for gay men.


Facebook marketing platform GraphEffect raised $2 million from LowerMyBills founder Matt Coffin, x+1 president Stephano Kim, and a few VC firms.

Instagram raised a $7 million Series A round from Benchmark Capital and high-profile investors including Jack Dorsey (Twitter founder) and Adam D'Angelo (co-founder of question-and-answer site Quora).

Mobestream Media, parent company and developer of smart phone shopping app Key Ring, closed $1.75 million in Series A funding from Austin Ventures.



Cross-platform media tracking service MediaMorph raised $2 million, bringing its total raised to $3.5 million., an operating business of IAC, acquired OkCupid, the U.S. online dating company, for $50 million in cash, plus potential future payments contingent upon performance.


Offermobi, a performance marketing network for mobile advertising campaigns in the U.S., raised $1 million in funding from New York-based ARC Angel Fund and some of its limited partners.

Path, the social network for close friends and family, closed an $8.65 million Series A round of financing led by Kleiner Perkins Caufield & Byers and Index Ventures,


SecondMarket completed over $400 million in transactions for private companies in 2010, but those trades account for less than 10 percent of all transactions on the site, which totals to about $5 billion. 

Today's Featured Entrepreneur is Jen O'Neal, co-founder and CEO of Tripping.

Video Chat Rounds, a video chat service on the Facebook platform, introduced Random Rounds, which connects random users together à la Chatroulette. 

Related companies, investors and entrepreneurs

Description: Tripping gives travelers a safe and easy way to connect with local people for tips, shared cups of coffee and even home stays.   W...
Description: SecondMarket is the marketplace for alternative investments. It has become the online destination for accessing market data, building you...
Bio: Jen O'Neal is the Founder and CEO of Under her leadership, has grown to offer 8 million rental prope...

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