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July 1, 2008

In This Update:

Adobe, Google, Yahoo Enabling Flash Searches
INFOWORLD
In a move that could add substantial volumes of Flash content to Internet search results, Adobe is working with Google and Yahoo to provide optimized Flash Player technology to enhance the searching of this content. The project, being announced Tuesday, will enable searches on Flash content to return text and links, which can then be indexed, said Justin Everett-Church, Adobe senior product manager for the Flash Player. Content from a Flash application or even a game or advertisement will be available to search engines. Pages containing a Flash .SWF file will be returned in a search.
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Purple Labs Buys Openwave’s Mobile Business for $30 Million
MOCONEWS
Openwave is selling its mobile software business for $30 million to Purple Labs, a French startup that develops Linux-based mobile programs. Chambery-based Purple Labs, which is backed by Sofinnova Partners, Earlybird and Partners Group, will give Openwave warrants to purchase up to 2% of its stock. It will also pay an additional $2 million if certain conditions are met. Openwave says it wants to sell its open-source software business to focus on network-based services. The company started off as Libris in 1994 and went through two name changes before merging with Software.com in 2000, forming Openwave.
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Social Network Hi5 Acquires Virtual World Platform PixVerse
DIGITAL MEDIA WIRE
Online social network Hi5 announced on Monday that it has acquired PixVerse, the provider of a Flash-based, no-download virtual world platform for social networks. Financial terms of the deal were not disclosed. PixVerse was founded in 2007 and backed by venture capital firm Venrock.
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Nokia Signs Warner to Music Deal
REUTERS
The world’s top cellphone maker Nokia signed a deal with Warner Music Group to make Warner titles available through its “Comes With Music” service and Nokia music store, Nokia said on Tuesday. “Comes With Music” from Nokia, the first cellphone maker to push heavily into content, would differ from other packages on the market as users can keep all the music they have downloaded during the 12 months. Nokia struck a deal with Universal in December and Sony BMG in April to offer tracks from their labels on the music service, to be launched in the second half of this year.
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CBS Completes CNET Acquisition
MULTICHANNEL NEWS
CBS Corp. said Monday that it has completed its $1.8 billion acquisition of CNET Networks, merging its operations into a newly expanded CBS Interactive division. CBS first announced the deal in May.
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Another ISP Delays Using Behavioral Targeting System
CLICKZ NEWS
A week after Charter Communications backpedaled on plans to implement NebuAds’ controversial behavioral tracking and ad serving platform, another of the vendor’s ISP partners has put on the brakes.  CenturyTel, which was among the first ISPs to test the NebuAd platform, will no longer put it into action across its whole network, as had been its plan. A spokesperson, Annmarie Sartor, said the company had not determined a definite date to flip the switch, but “we were looking at some time this summer,” she said.  Now the deal is off until further notice.
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Report: High Tech Venture-Backed IPOs Dwindle in 2008
WALL STREET JOURNAL
An IPO drought in Silicon Valley is intensifying, prompting big changes in how high-tech companies backed by venture capitalists raise money. In the second quarter, no companies backed by venture capitalists went public via an initial public offering in the U.S., the first time that has happened since 1978, according to the National Venture Capital Association. There were just five venture-capital-backed stock offerings in the first quarter, compared with 31 in the fourth quarter of 2007.
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EMI Sues Social Network Hi5, VideoEgg Over Music Videos
TECHCRUNCH
Major record label EMI has filed copyright infringement litigation against online social network Hi5, video site VideoEgg, and ten undisclosed John Doe defendants. VideoEgg previously powered video functionality on Hi5, but the companies ended their partnership in April; the lawsuits apply largely to EMI music videos that appeared on Hi5 without the proper permissions.
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Sony Patent Hints at Game-Focused iPhone Rival
ELECTRONISTA
Sony is exploring the development of a likely game-oriented touchscreen device that may also be a communicator, according to a newly published US patent filing. A patent shows a handheld touch device that would allow both direct and gesture-based input and which would also provide force feedback across the entire display through a system known as “tactile pixels;” a grid of small bumps would lift to reach the screen and help simulate physical button presses or other effects based on touch input.
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Baidu Signs Search Deal with Nokia
FORBES
Chinese search engine Baidu Inc has entered into a mobile search tieup with Nokia Corp, the official Shanghai Securities News reported, citing sources close to the matter. The report said Baidu will provide a China mobile search platform for Nokia’s new ‘Widsets’ service, and the product will be pre-loaded in Nokia handsets.
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Report: Open-Source Venture Funding Rises 14 Percent in Q2
CNET
Venture funding for open-source companies rose 14 percent in Q2 2008 over Q2 2007, according to The 451 Group, to $115 million. Funding for the first half of the year is up 62 percent over 1H 2007. That’s the good news. The bad news is that Seed and Series A funding remains anemic, and may continue to remain so while venture-backed companies struggle generally to find a public exit.
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DirecTV Makes On-Demand Service Available Nationwide
HD REPORT
DirecTV announced today their on demand service is now available to customers nationwide. The content is available to customers who have a DIRECTV Plus HD DVR or R22 DVR receiver. There are more than 4,000 titles available at any time, including high-definition (HD) titles.
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Study: Teen Mobile Audience Reaching Saturation
MEDIAPOST
The highly sought-after teen mobile audience is reaching saturation, according to a new study. Market research firm MultiMedia Intelligence found that more than 16 million U.S. teens ages 12 to 17 subscribe to wireless services–up 12% from 2006. That total is only expected to grow to 17 million by 2012. The study points to a lack of multiple handsets aimed at youth subscribers and pricing pressure in explaining stagnating growth. Still, average revenue per user (ARPU) among teens has been growing faster than the overall mobile market, according to MultiMedia Intelligence.
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Agito Networks Raises $13 Million Series B for Enterprise Mobility
PE HUB
Agito Networks Inc., a Sunnyvale, Calif.-based provider of enterprise mobility solutions, has raised $13 million in Series B funding. Castile Ventures led the round, and was joined by ITX International Holdings and return backer Battery Ventures. The company’s debut product is a platform designed to mobilize “business voice and data applications using RF-based, location-aware technologies and patent-pending algorithms.”
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UK Online Jeweler AstleyClarke.com Raises $5.5 Million First Round
ALARM:CLOCK
Luxury jeweler website AstleyClarke hopes to expand operations after raising GDP2.5m (USD5.5m) from investor Index Ventures in a first round of funding. The company says it hopes to build on infrastructure by hiring new operations and IT directors, as well as expand on its consumer base across the UK, the US and the Middle East. AstleyClarke sells from smaller designers like Jade Jagger and has a contest for up-and-coming designers.
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API Management Platform Mashery Secures $2 Million
DIGITAL MEDIA WIRE
Mashery, a provider of services that help companies create APIs that open their content for use across the Web, announced that it has raised $2 million in new financing, led by .406 Ventures. Salesforce.com CEO Marc Benioff, as well as previous investors First Round Capital and Formative Ventures also participated in the round.
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