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Bit.ly Stays In The Game With New Funding

  • Mashable, Friday, October 8, 2010 2:05 PM
URL shortener Bit.ly just announced a $10 million Series B round led by RRE Ventures, along with AOL Ventures, O'Reilly AlphaTech Ventures, Betaworks, Ron Conway's SV Angel and a host of others. By Mashable's estimate, this latest round brings Bit.ly's total funding to $15 million -- including $1.5 million of debt financing. But how's Bit.ly doing following Twitter's entrance into the URL shortening market? Pretty good, as it is currently decoding about 200 million URLs a day. The startup also claims to be the 69th largest website by traffic volume, citing Google stats.

This year, meanwhile, Bit.ly links had been clicked 40 billion times. "With the rollout of Bit.ly Pro, the company is capitalizing on those metrics," according to Mashable. "This white-label service is being used by roughly 3,000 large companies and many smaller companies as well." RRE Ventures is best known for investing in Drop.io, Xobni, and the less creatively named BuzzFeed.

Read the whole story at Mashable »

1 comment about "Bit.ly Stays In The Game With New Funding".
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  1. Bill Purkins from OneCent.US, October 14, 2010 at 6:51 p.m.

    AOL has done it again. What did they tinkle away on BEBO? A Billion? Now? 10 mill to a company whose main claim to fame is a PHP program that an eighth grader can write? Or if he or she is lazy there are free URL Shortener scripts on the Internet you can download. How does AOL stay in business? Do they have a night nurse that hides the razor blades? http://OneCent.US announces today that they have added a feature that warns minors and people who don't want to be exposed to and people whom it is illegal to VIEW porn on the web that they have a slick new solution and people are getting excited about looking at a picture of a fish that you eat its liver and you start convulsing and die? And AOL coughs up enough money that could buy a meal for one half of the billion people who go to bed hungry every night in the forsaken snake pit we call home. How is this news?

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