Bit.ly Raises $1.5 Million From VCs and Received 2.7 Billion Clicks Last Month

URL shortening service Bit.ly has been growing at an aggressive rate as they have become the default for Twitter. Given their current growth rate, the company needed another injection of cash as they have raised $1.5 million from previous investors. These investors include Betaworks, SoftTech (Jeff Clavier), Ron Conway, Mitch Kapor, Chris Sacca, O’Reilly AlphaTech Ventures, and Howard Lindzon. The funding was added to an SEC filing and TechCrunch confirmed the round with Bit.ly President John Borthwick. The $1.5 million round was set up as a convertible debt note. Bit.ly received 2.7 billion clicks last month. last week alone about 744 million Bit.ly links were clicked on. [TechCrunch]

Related posts:

1. Bit.ly Receiving Over One Billion Clicks Per Month
2. URL Shortening Service Bit.ly Raises $2 Million
3. LinkedIn Makin’ Moves; Raises $53 Million & Now Valuated At A Billion
4. Bill Gates Sells Off 8 Million Shares Of Microsoft Stock This Month Already
5. Sports Resort For The Wii Sells One Million Units In 1 Month