bit.ly, a New York, NY-based platform for shortening links in the social web, has completed its Series B funding of undiscolsed amount.
The round was led by by RRE Ventures, with participation from AOL Ventures and existing investor OATV, Mitch Kapor, Founders Fund, SV Angel, Joshua Stylman, Peter Hershberg, David Shen, and betaworks.
In conjunction with the funding, Eric Wiesen, General Partner at RRE Ventures, will be joining bit.ly’s board.
This new capital will enable the company to continue to scale and innovate its service.
After launching, two and a half years ago, bit.ly has become the dominant platform for shortening links in the social web. Larger customers include Amazon (amzn.to), Microsoft (on-msn.com), Yahoo (yhoo.it), The New York Times (nyti.ms), Pepsi (pep.si), Foursquare (4sq.com), Formspring (4ms.me), CNN (on.cnn.com), ESPN (es.pn), BBC (bbc.in) and NPR (n.pr).
FinSMEs
08/10/2010