Photo ad network startup company Pixazza, known as the “AdSense for photos” has raised $12 million in Series B in a round led by Shasta Ventures. Pixazza raised $5.75 million in their Series A of funding. Another investor in Pixazza includes Google Ventures. Pixazza turns text on their pages into clickable ads — for example: if you like the boots in a photo, you will see an ad pop-up for it. Pixazza reaches about 25 million unique visitors per month or 8 billion image impressions per year across their ad network. [AllThingsD]

Advanced Micro Devices, Inc. (NYSE:AMD) has made $1.65 billion in revenue for the second quarter. However AMD is still in the red with a net loss of $43 million. AMD made 5% more revenue in the first quarter of 2010 and a 40% increase since Q2 of 2009 when they lost $330 million. [BusinessWire]

E! Entertainment Television co-founder Alan Mruvka has launched a new website called The Look (TheLookTV.com). The Look focuses on fashion and celebrity news and is monetized through e-commerce sales.

VH1′s Best Week Ever has done a parody on “The Social Network” trailer by doing a video called “The Other Social Network.” “The Other Social Network” video does a parody on Tom Anderson of MySpace.

The AT&T Captivate is now available for sale at a cost of $199.99 after contract.  Without a contract, you can have the phone for $500.  The Samsung-powered Captivate phone has a 4″ Super AMOLED display.  It has a six-axis motion sensor and a 3D graphics engine.  It is powered by the Android operating system and has a 1 GHz Cortex A8 Samsung application processor.  The phone also has a 5 megapixel camera with HD video recording.  It also has a 16GB on-board memory for photos, videos, and audio.  You can expand the memory up to 32GB. [Android Central]

The Social Network movie is being promoted on Twitter as you can tell by the trending topic in the screenshot that says #SocialNetwork.  Facebook’s terms of services does not allow advertisements that reference Facebook itself.  To see previous coverage of the Facebook movie, check out our Jesse Eisenberg tag on Pulse2.com. [BusinessInsider]

Apple Inc. (NASDAQ:AAPL) said that it takes about 3 years to get new cellphone towers in San Francisco, California. At a press conference on Friday, Apple co-founder Steve Jobs discussed some of the hardships they have had working with AT&T. San Francisco is one of the hardest cities to get cellphone approval in.

The Verizon Droid X is sold out at stores. The 1GHz giant Motorola phone will not be available until July 23rd. The Droid X has a 4.3-inch display, HDMI output, 8 megapixel camera, and 720p video capture. “This has been a very good day one for Droid X sales. Customers were in line at midnight in some markets, in other places there were lines when the stores opened and in other stores there has been a steady stream of customers. We have been successful at keeping up with early demand but at present inventory in some parts of the country inventory is either low or out. (It truly varies around the country.) Since we have weekly shipments planned, customers can still order phones and can expect them to be shipped on or before July 23,” stated Verizon in a message. [PCWorld]