What you need to know - 05/27/11

Ronny Kerr · May 27, 2011 · Short URL: https://vator.tv/n/1ae4

tektrak takes home the gold at Vator Splash LA; Google Wallet unveiled

Venture capital firm Tiger Global Management led a $16 million funding round for Exclusively.in, a members-only Indian fashion e-tailer.

Fotomoto, a service for buying and selling photos, has raised a $1.2 million Series A round from Adams Capital.

Google unveiled its new mobile wallet app Google Wallet on Thursday. The good news is that it’s awesome. The bad news is that it’s extremely limited. For now.

Reply!, a marketplace for the acquisition of locally-targeted consumer traffic, acquired MerchantCircle, an online network of local business owners, for $60 million in cash and stock.

Right after Google announced its new payment system (above), PayPal and eBay fired at the company with a lawsuit, claiming it stole employees and secrets.

tektrak, provider of mobile security solutions, emerged the victor at the inaugural Vator Splash LA. Oh, and here were the other nine finalists.

Today's Entrepreneur is Evan Lowenstein, Founder & CEO of Stageit. According to his VEQ, Evan is a thought leader and is good at team motivation and sales execution.

To read more about Vator Splash LA, check out our notes from ReachLocal CEO Zorik Gordon's keynote, an interview with Demand Media head of M&A Shawn Colo and a panel of investors talking about the tech bubble.

Ronny Kerr

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TekTrak

Startup/Business

Joined Vator on December 14, 2010

TekTrak is the team behind innovative mobile security software that protects your phone and the valuable data stored within. By harnessing the powerful Assisted GPS hardware integrated in smartphones, TekTrak is insuring no one ever loses their phone and privacy again. What started out as frustrating experience of losing a phone with pictures and data, has now become a mobile tracking and security business. Our security application allows users to remotely locate their phone, lock it, send a message, set off an audible alarm, and remotely wipe the data from the device.

TekTrak is currently available on iOS and on Samsung Android-based devices, and will be available for other major platrofms within the next year.