What you need to know - 07/19/11

Lulzsec hacks The Sun and posts fake death report; LinkedIn and Pandora shares dipping

A study by Changewave Research shows that new smartphone customers prefer iOS over Android—which directly contradicts a Nielsen study released back in April showing new smartphone customers prefer Android over iOS.

Cardagin Networks, developer of a mobile loyalty and advertising platform, raised $4.25 million in Series A-1 funding led by private and angel investors.

Mobile ad spend is expected to reach $2.5 billion by 2014 in the U.S.

Google and 500 Startups both registered new domain names: g.co and 500.co.

JOOR, an online wholesale marketplace for contemporary fashion brands and independent boutiques, raised $2.25 million in Series A financing led by Battery Ventures with participation from Lerer Ventures, Great Oaks Venture Capital, Landis Capital, Forerunner Ventures, William M. Smith and Richard Mishaan.

Easily the funniest thing to come out of the seedy News of the World scandal, hacker group LulzSec hacked the Murdoch-owned The Sun website to post a hilarious fake Rupert Murdoch death report.

LinkedIn saw its shares drop $7.53 (6.85 percent) on Monday, from $109.97 to $102.44, after a recommendation from J.P. Morgan analysts. Pandora isn't doing too hot either, in the face of a U.S. Spotify launch.

MoboTap, developer of a mobile browser for Android, secured $10 million in Series A funding led by Sequoia Capital, with participation from Matrix Partners.

SupersonicAds, a leading social in-game advertising platform utilizing virtual currency monetization, is announcing its first institutional funding round of $4.2 million led by Greylock Israel (IL).