Mobile phone security startup company Lookout has raised $11 million. The San Francisco based mobile firm offers a download for phones that run on Android, BlackBerry, and Windows Mobile operating systems to prevent security attacks. The software can protect against hackers, provide backup for data, and find recently missing phones. It can also wipe out date remotely if someone steals the phone. The funding was provided by Accel Partners, Khosla Ventures, and Trilogy Partnership. Ping Lea of Accel will be joining the board of directors at Lookout. [Red Herring]

Y Combinator, the successful incubator firm started by Paul Graham has raised $8.25 million in funding from Sequoia Capital, Ron Conway, Paul Buchheit, Aydin Senkut, XG Ventures, and Geoff Ralston. Last year Y Combinator raised $2 million. Y Combinator plans to increase the number of companies that they provide start-up funding to. Since starting in summer 2005, Y Combinator has invested in about 207 startups. [TechCrunch]

Ann Arbor Pioneer High School junior Damian McGlothlin has started an online charity website called YouChooseOne.org. The idea behind the website is to control where your money goes where your money goes when you make a charity donation. “When Chris was 13 or 14 and we were living in Kentucky, I donated a check to the Red Cross to help out the victims of the tsunami in Asia and my son asked where that was money was going and wondered why you couldn’t pick and choose who you donate to,” stated Damian’s father and Domino’s Pizza CIO Christopher McGlothlin in an interview with AnnArbor.com.

Oracle has acquired data security U.K. firm Secerno. Secerno is a database firewall company and the deal is expected to close by end of June 2010. Secerno’s software adds a defensive layer around databases which blocks unauthorized hackers in real-time.

Salesforce.com CEO Marc Benioff was on a conference call yesterday to report earnings. Benioff was asked about his thoughts on Microsoft’s lawsuit against them over patent. Benioff replied with the following:

Toyota Motor Corporation has bought a $50 million stake in Tesla Motors Inc. As part of the deal, Tesla will also buy a closed Toyota factory in California to build the Model S and other vehicles.

The VisitFlorida.com website has embraced social media to provide updates to tourists and residents about oil spill updates. There is a Google Maps and Twitter mash-up embedded in the website that shows tweets about the oil spill in a city that you click on. There are also live feed webcams spread throughout the state.

Dude Perfect is a group of Texas A&M students that do some wild stunts while throwing a basketball through a hoop. In the viral video below, they flew up in a crop duster plane and shot a basketball from up there. Check it out below.