What you need to know - 05/03/11

Ronny Kerr · May 3, 2011 · Short URL: https://vator.tv/n/19ff

Social media ad revenues to hit $8.3B in four years; Osama's death sets tweet records on Twitter

Steve Ballmer revealed at BlackBerry World 2011 that Microsoft's search engine Bing will be the new default map and search option on all future BlackBerry devices.

Personalized video advertising company EyeView raised a $1 million round of funding led Eric Schmidt's Innovation Endeavors.

Social media advertising revenues will grow from $2.1 billion in 2010 to $8.3 billion in 2015, representing annual growth of 31.6 percent, according to the latest forecast.

Another report says Facebook is on track to surpass $2 billion in earnings before interest, taxes, depreciation and amortization (EBITDA).

Auction-based marketplace eBay acquired MissionFish, the company that powers the eBay Giving Works program, from its previous owner, Points of Light. The terms of the deal were not disclosed.

Mobile developer NoiseToys raised $1.2 million in seed funding from several investors, including DCM, former Playdom Chairman Rick Thompson, and Guitar Hero co-creator Charles Huang.

Peel closed a $16.7 million Series B round of financing led by Ravi Mhatre from Lightspeed Venture Partners, with help from Redpoint Ventures and several existing angels.

Send the Trend, an e-commerce company site for women’s fashion accessories, raised $3 million in Series A funding led by Battery Ventures.

Social marketing platform Tigerlily raised €900,000 ($1.3 million).

Twitter has acquired TweetDeck for between $40 and $50 million in a combined cash and stock deal, according to unnamed sources.

Also: Osama's death set a new Twitter record. Between 10:45 and 12:30 am ET, there was an average of 3,440 tweets per second (TPS), the highest number of sustained tweets ever.