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Boom! Walgreens Buys Online Retailer Drugstore.com For $409 Million
Mar 24, 12:05PM
Drugstore juggernaut Walgreens this morning announced that it will acquire online retailer Drugstore.com in a transaction with a total enterprise value of approximately $409 million. As a result of the merger, Walgreens will acquire the Drugstore.com website in addition to other websites operated by the company, including Beauty.com and SkinStore.com. Walgreens will fund the acquisition with existing cash and anticipates the transaction to close by the end of June 2011.
Steve Jobs To Tawkon: "No Interest" In Your Phone Radiation Measurement App
Mar 24, 11:48AM
I see you driving 'round town with an app that measures cellular radiation, and I'm like, "no interest". Apple head honcho Steve Jobs has made it abundantly clear that Tawkon's phone radiation measurement application is not welcome on its official App Store, pushing the startup to make it available for free (for jailbroken iPhones) through Cydia instead. Tawkon sent a courteous email to Jobs in the hopes of gaining approval for distribution of the application through Apple's App Store, only to receive a characteristically curt response back.
Total Immersion Raises $5.5M From Intel, Others For Augmented Reality Platform
Mar 24, 11:20AM
Augmented reality software company Total Immersion this morning announced that it has secured $5.5 million in a funding round led by Intel Capital, with existing backers Partech, iSource and Elaia Partners participating. The company has now raised more than $11 million in funding. The additional capital will be used to step up development of its D'Fusion software platform and to expand operations in Asia and the United States, grow its community of developers and explore new consumer markets.
Venture Capitalists May Hate AngelList, But They're Still Using It
Mar 24, 5:37AM
AngelList, a sort of social network that brings entrepreneurs and investors together to talk about and fund deals, is more controversial than the average Joe might think. But one thing's clear, top tier venture capitalists are using the site to find companies. OATV Partner Bryce Roberts recently unsubscribed, citing too much noise in the email flow from the site, as well as a personal issue with the herd mentality of investors around certain deals. That created more yelling and personal attacks by bloggers than I've seen in a while (much of it rounded up here). Most of the small angel investors I talk to love AngelList because it gets them information on some deals, and information is hard to come by when you aren't a celebrity investor. But when I ask more well established investors about AngelList, they usually reply with something like "meh." 
That Was Fast: The Speak-To-Search Extension For Chrome
Mar 24, 2:21AM
It seems like just yesterday that I was writing about Chrome 11's awesome new ability to let you speak to the browser by way of HTML5. In fact, it was just yesterday. But that hasn't stopped a team from coming up with a Chrome extension to get it to work in search boxes across the web. Speechify is an extension that Dugley Labs churned out in record speed yesterday. With it, many of the search boxes you visit on the web gain the little microphone icon that when clicked, allows you to speak your search. It works on Google, Bing, YouTube, Hulu — a ton of sites. And it works well.
Google TV PM Brittany Bohnet Leaves Google To Found A Startup
Mar 24, 12:56AM
Google TV Product Lead Brittany Bohnet has just announced that she's leaving Google after four years to try her luck as an entrepreneur, presumably as a co-founder of an as of yet un-named startup. At Google Bohnet was a Product Marketing Manager who worked on products like Maps, Earth and iGoogle, but most recently Google TV. Before Google Bohnet worked in PR at Apple as well as Marketing at Tiny Pictures. Bohnet has also been a founder before, being the CEO of Median Media which was a PR consulting company for Silicon Valley startups.
Views.fm Makes Dropbox Look Sexy
Mar 24, 12:38AM
The Web is a medium for sharing. Whether it be photos, videos, music, links, code, we share the content we produce and consume all the time. The rise of the social graph has only brought more attention to the ways we share and with whom we share. After all, sharing is caring, amirite friends? In a recent post, I talked about some of the problems that remain in a specific (and familiar) part of the content-sharing sphere: file-sharing. At the end of the post, I mentioned the popular cloud storage, sync, and file-sharing startup, Dropbox, as a service I use frequently. Part of what makes Dropbox so great is its simplicity -- you download the utility, create an account, and you can easily share all of your electronic files in a virtual cloud folder, collaborate with friends and colleagues, and sync between devices and hard drives. Boom.
Dorsey Is Back In Action At Twitter, And That May Be Formalized Soon
Mar 24, 12:29AM
While everyone is going gaga over Lady Gaga at Twitter, it's the gradual return of another creative genius to 795 Folsom Street that's got die hard Twitter fans all hot and bothered. Twitter and Square co-founder Jack Dorsey, as first reported by Business Insider's Nicholas Carlson, is currently in talks with Twitter management to expand his role. We've confirmed independently that this is indeed the case. We're hearing, and its been reported elsewhere, that Dorsey is even more involved in meetings at Twitter following Evan Williams departure as CEO, going beyond his capacity as Chairman and getting more hands-on with product strategy. And Dorsey has been showing up for "Tea Times," Twitter's Friday meetings.
Color Looks To Reinvent Social Interaction With Its Mobile Photo App (And $41 Million In Funding)
Mar 24, 12:02AM
$41 million. From Sequoia Capital, Bain Capital, and Silicon Valley Bank. Pre-launch. That's how much a brand new startup called Color has to work with. Your eyebrows should already be raised, and here's something to keep them fixed there: this is the most money Sequoia has ever invested in a pre-launch startup. Or, as the Color team put it, "That's more than they gave Google." But the founding team goes a long way toward explaining it. Headed by Bill Nguyen — who sold Lala to Apple in late 2009 — the company has attracted a wealth of talent. It has seven founders including Nguyen and company president Peter Pham, who previously founded BillShrink. And its chief of product is DJ Patil, who was previously LinkedIn's chief scientist. So what exactly is Color?
YouTube Now Helps You Make Movies…Without A Camera
Mar 23, 11:35PM
By now you're undoubtedly familiar with the incredible amount of footage that's uploaded to YouTube — the current count is 35 hours of video uploaded every minute. And with video cameras integrated into smartphones, tablets, and computers these days (not to mention dedicated video cameras) it's easier than ever to record that content. Unfortunately, there are still plenty of people who simply don't have access to recording equipment. Today, YouTube is looking to do something about that. The site has just launched a new portal at YouTube.com/create where you can design your own video clips using GoAnimate, Stupeflix, or Xtranormal, each of which lets you 'build' custom videos featuring virtual avatars, custom speech, and more.
Serlet Transition Out Appears As Natural As OS X Transition Towards iOS
Mar 23, 11:19PM
Back in October of last year, the day before it was formally unveiled, I wondered if OS X Lion would be the last of its kind. There were two main arguments: the big cat name choice and the colossal rise of iOS. With today's news that OS X father Bertrand Serlet is leaving Apple after 14 years (and 22 years working with CEO Steve Jobs), the question has come roaring back to life. Apple has been giving OS X big cat nicknames since 10.0 (though they started off as informal codenames at first). The forthcoming latest iteration, OS X 10.7, has been given the name "Lion", the king of the jungle. But more important than the name is what's inside Lion: iOS-like features. A transition is happening. Apple made this very clear during the initial preview of Lion. It's OS X meets the iPad.
Google's Algorithmic Cat And Mouse Game [Infographic]
Mar 23, 10:05PM
The search wars have officially arrived! That's right folks, Google's ongoing quest to make its search results more impervious to spammers has become an infographic, which basically is a badge of honor for any tech bitchmeme. Closet and not so closet SEO nerds can follow the above flowchart tracing Google's storied path, from getting rejected by Excite@Home in favor of current Demand Media honcho's iMail through the chutes and ladders of its algorithmic spam chase to the company's most recent attempts to quell the rising influence of content farms like um, Demand Media. 
Exclusive Data On Groupon's U.S. Revenues And February Falloff
Mar 23, 6:31PM
By most accounts, Groupon is growing like gangbusters. It's taking market share around the world, hiring left and right, and priming for a $25 billion IPO. But how much of the group-buying site's revenues are U.S. versus international and how is it doing in its home market, especially after its disastrous Super Bowl ads? The chart above shows a pretty good estimate of Groupon's monthly U.S. revenues based on an analysis of every Groupon deal on its site over the last year (each deal page shows how many Groupons were sold and the price). Some key takeaways: From January, 2010 to January 2011, Groupon's U.S. monthly revenues grew eightfold from $11 million to $89 million. But February saw a huge 30 percent drop-off to $62 million. Was that a backlash because of the Super Bowl ads or simply a breather after three months of crazy holiday deals? 
AOL HuffPost To Freelancers: We Want You On Staff, But Real Journalists Only Need Apply
Mar 23, 6:25PM
In the reorganization of AOL and the Huffington Post into the Huffington Post Media Group, the company succumbed to layoffs and consolidated AOL news sites into the Huffington Post, folding or shutting down thirty properties. While a number of staffers were let go in this round of layoffs, what about the freelancers? It has been speculated that their time at AOL may be over, though it has remained largely unclear as to how freelancers for the properties in question will officially be treated going forward under the new media group. Today, Peter Goodman, editor for business and technology news for the Huffington Post, held a conference call for freelance business writers for AOL properties, and we were fortunate enough to get the inside scoop on what was discussed from a freelancer (who shall remain anonymous) on the call.
Keen On… Why Google Is Making Us Fat and Lazy [TCTV]
Mar 23, 6:25PM
Nicholas Carr once argued that Google is making us stupid. Googlization of Everything author Siva Vaidhyanathan goes one step further than Carr. Google, Vaidhyanathan says, is like junk food. It indulges our need for speed and convenience and thus makes us fat and lazy. As ice cream rather than spinach, therefore, Google is bad for us. The good Dr. Vaidhyanathan doesn't tell us to quit our Google habits. But he does advise our to "be careful." Google isn't a force for the good, he tells us and thus we need to be wary about how we use the service and how much we trust it – especially given recent accusations of its biased results. Indeed, Vaidyanathan is himself so worried about Google that he calls for what he calls some "public infrastructure" to control its power.
Offline Labs Goes Online With $1 Million Seed Round. Enter The Project Dragōn: Sōsh
Mar 23, 6:10PM
A year ago, Rod Begbie, Rishi Mandal, and Vivek Patel were all working at Slide. Then the Google deal happened. Shortly thereafter, each of them left — but they weren't ready to stop working with one another yet. The result is Offline Labs and they had no problem attracting a large group of investors to their seed round. Specifically, Offline Labs has raised $1 million from Keith Rabois, Naval Ravikant, Benjamin Ling, Karl Jacob, Jack Herrick, Kevin Freedman, Richard Chen and firms: Sequoia Capital, General Catalyst Partners, Redpoint Ventures, and Polaris Ventures. "We're thrilled to be associated with such a solid group," Mandal says.
I, For One, Welcome Our New Dancing Android Overlords
Mar 23, 6:01PM
Little known (and completely false) fact: once upon a time, the Android Robot (the platform's lovable lil' green logo) entered a dance contest. First place was a lucrative dance contract with one of the world's finest agencies, with dancing gigs from Paris to Rome. Second place meant you got to dance next to a Sony Ericsson stand in Taiwan. Needless to say, Android didn't get first. Also, I find it amazing that a guy in a massive inflatable rubber suit can still dance considerably better than I can.
Amazingly, MySpace's Decline Is Accelerating
Mar 23, 5:31PM
Between January and February 2011, says Comscore, worldwide unique visitors to MySpace declined by a staggering 14.4% from 73 million visitors to 63 million visitors. It's about half of the audience they had a year ago. Everyone knows MySpace traffic is going the wrong way, but the accelerating decline (and big financial losses) is a serious problem. Parent company News Corp. is in the middle of a sale process, and everyone from venture firms to private equity firms to operating companies are taking a look. "It's like slowing down at the scene of an accident," says one person with knowledge of the discussions, "everyone wants to take a look at how bad things have become." The problem with negative growth is that predictive modeling has to be thrown out the window. And an accelerating decline in audience suggests that MySpace won't be stabilizing soon. Right now, people are fleeing as fast as they can from the site.
CMP.LY Raises $750,000 To Keep Companies Honest Online
Mar 23, 5:31PM
More and more businesses are using social media — from Twitter, Facebook and LinkedIn, to Tumblr and Foursquare, more recently — to manage customer relationships, market, sell or even directly conduct their business transactions. With the maturation of the technology and business practices comes regulation from government agencies including the Federal Trade Commission (FTC) and the Financial Industry Regulatory Authority (FNRA) in the U.S. and the Office of Fair Trading (OFT) in the U.K. A New York City startup, CMP.LY (pronounced "comply") today announced that it has raised a $750,000 seed round to provide web-based software and services that help companies play by the new rules. CMP.LY's backers included: Safir Capital, Angel Street Capital, Austin-based investor and serial entrepreneur Joshua Baer, and undisclosed angels who the company connected with, in part, through AngelList...
Yahoo Launches Its Answer To Google Instant: 'Search Direct'
Mar 23, 5:26PM
Yes, Yahoo is launching a new product today that you might actually be interested in. It's derivative, but it looks useful. Today at a press event in San Francisco, the company announced the launch of a new product called 'Search Direct'. It looks a lot like Google Instant: as you start typing a query into Yahoo Search, the site will begin populating results with each new character entered (in other words, you don't have to hit the 'return' key). The feature is now live at search.yahoo.com. Google Instant, of course, has done the same thing since September. But Yahoo says that Search Direct is looking to help match users with "answers, not links". As you start typing, a small rectangular widget will slide down from the search bar and show rich results whenever available — do a query for "Derrick", and you'll see quick breakdown of basketball player Derrick Rose's stats. Search for a city and you'll see weather widgets and nearby sports team schedules. Google Instant also shows rich results when possible, but Yahoo Search Direct does seem faster, in part because it isn't refreshing the whole page.
Software Development And IT Outsourcing Powerhouse Globant Raises $15 Million
Mar 23, 3:59PM
Globant, an Argentinian software development, IT services and maintenance outsourcing giant has landed $15 million in financing from PE firm Riverwood Capital and FTV Capital. The funding is meant to further Globant's growth and to support its acquisition plan throughout Latin America and the United States. 
Review: Olympus E-PL2 Micro 4/3s Camera
Mar 23, 3:54PM
Short Version
To be sure, Olympus' micro 4/3s cameras, the E-PL1 and the E-PL2, are changing the way we think about removable lens cameras. However, I worry that high price coupled with potentially limiting features will cause some shooters to shy away from this line. While that may be the case, I encourage anyone thinking about a point and shoot or ultrazoom camera to look into these clever and high-quality shooters.
Study Shows AT&T iPhone Owners Rely On WiFi More Than Verizon iPhone Users
Mar 23, 3:23PM
Mobile ad exchange Mobclix is releasing a survey this morning which examines the usage of the Verizon iPhone vs. the AT&T iPhone in the U.S. The Verizon iPhone was released to the public over a month ago, and according to Mobclix's data, larger metropolitan cities have higher Verizon iPhone usage. The top cities with the highest Verizon iPhone usage across the Mobclix exchange include San Francisco, Los Angeles, Seattle, Chicago, New York City and Boston. Of course, it's well known that AT&T has more reception problems in more densely populated cities (i.e. San Francisco).
How Do You Talk To An Angel? Use Yobongo, They're All Investing.
Mar 23, 3:10PM
"We spoke to investors in October but many people doubted that Yobongo would work. So we went and kept working on the product," Yobongo co-founder Caleb Elston says. "A few weeks ago we got the product into peoples hands and literally 10 minutes from sending the beta to one of our investors he called, emailed, texted, and Yobongo messaged me. 'I get it, I'm in.'," he continues. And that one investor is hardly the only one. The mobile chat service has secured a $1.35 million angel round with many familiar investors taking part. Individuals Mitch Kapor, Dave Morin, Kevin Rose, Gary Vaynerchuk, Karl Jacob, Bill Roux, Shervin Pishevar have all invested. And Freestyle Capital and True Ventures have joined in on the action as well.
Social Shopping Startup ShopSquad Lands $1.25M In Funding From Heavy Hitters
Mar 23, 3:00PM
Exclusive - Social commerce startup ShopSquad has secured $1.25 million in early-stage funding, TechCrunch has learned. The seed financing round was led by a consortium of individual investors with a wealth of online commerce expertise, including the members of the fledgling company's advisory board. ShopSquad is a free service that connects shoppers with advisors through live video chat and guided browsing sessions for product advice and recommendations. 
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