Turntable.fm, an online music service, caught on this summer as a way to share and discover music online. On Wednesday the New York-based company announced that it has raised $7 million dollars in a founding round led by Union Square Ventures. The company announced that it also released a version of its product for the iPhone. READ MORE
The No. 1 reason for Americans to go online? Social networking by far. The Nielssn Company, the longtime TV analyzer, released its first report on Internet traffic patterns today, and concluded that social media represents 22.5 percent of the time Americans spend online. They spend 9.8 percent on online gaming, and just 7.6 percent for email. READ MORE
Tumblr has nearly amassed between $75 and $100 million in venture capital, possibly reaching a market value of $800 million. The Wall Street Journal reported that one of the big venture capital firms involved was Greylock Partners, who has invested in Groupon and Airbnb. READ MORE
Web publishing platform Wix.com announced the launch of WixMobile, a free click-and-create platform that lets users quickly and easily publish sites that are optimized for viewing on mobile devices with no coding necessary. READ MORE
If you’ve ever had a blog you likely know the feeling of occasionally not knowing what to write. A new blogging platform called Percolate seeks to solve that problem by tapping into your RSS and Twitter feeds, culling content based on your interests, and offering you the ability to share your thoughts on subjects with friends, explains Austin Carr for FastCompany. READ MORE
Why is Tumblr like wine? “A quiet night with a couple of friends, and a couple of their friends. Spilling nostalgic stories, flipping through photo albums, singing favorite songs,” explains the new Internet Vices chart from HappyPlace. READ MORE
Many still haven’t accessed Google+ for the first time, but the company is apparently hiding even more features for its new social network. A closer examination of Google+’s code reveals a number of mentions to “Google Games” and “Google Questions,” according to Engadget. READ MORE
Tumblr just surpassed WordPress in blog hosting. But there may be a new kind on the block: Blogymate, created by a team in the UAE, that combines the capabilities of a long-form blogging platform with the flexibility of Tumblr to post microblogs, links, photos, and videos. READ MORE
Exactly one week ago, we reported that WordPress.com was leading Tumblr in blogs hosted by about 1.6 million, but that the gap was closing quickly. Tumblr wasted no time, officially passing WordPress.com yesterday to claim the blog hosting crown. READ MORE
Social networking sites are on the rise, but it’s the rate of this growth that is most surprising. In the last year alone, social networking use increased by 25 percent, and a new report from web analytics firm comScore says the average online user now spends one out of every six minutes on social sites. READ MORE
