What you need to know - 09/08/11

Facebook revenue at $1.6 billion for first half; Google Offers is successful, expands to more cities

Backupify, provider of data protection and management services for cloud-based applications, secured $5 million in Series B funding led by Avalon Ventures, with participation from General Catalyst and Lowercase Capital

Location-sharing app Echoecho won the support of Google Ventures and UK-based venture firm PROfounders Capital in the form of $750K in seed funding.

Facebook’s revenue in the first half of 2011 reached $1.6 billion, according to an unnamed source with knowledge of the financials. The same source says net income in the first half of 2011 approached $500 million.

Facebook added Erskine Bowles, most recently appointed as co-chair to President Barack Obama's National Commission on Fiscal Responsibility and Reform, to the company’s board of directors.

Google Offers expanded to five new markets: Austin, Boston, D.C., Denver and Seattle.

Mobile search and social media company Taptu received €2.5 million ($3.5 million USD) from DFJ Esprit and Sofinnova.

Trunk Club raised $11 million in a Series A round led by U.S. Venture Partners, with help from Greycroft Partners, Apex Venture Partners, and Anthos Capital