Back in November I wrote about how Guardian Media Group was attempting to sell off paidContent. paidContent is a tech blog that is run by a company called contentNext. Guardian Media Group acquired contentNext in July 2008 for approximately $30 million including earn-outs. It was rumored that contentNext did not meet the earn-out requirements for the full price and Guardian did not know how to efficiently manage the brand. Today GigaOM has announced that they have acquired paidContent and the other contentNext properties for an undisclosed sum.

Today Om Malik published an interview he did with Twitter co-founder Evan Williams on what some of the challenges of the web are today. One of the biggest challenges is that the Internet hosts an infinite amount of information.

Technology blog network GigaOM has raised $2.5 million from True Ventures and Alloy Ventures. GigaOM founder Om Malik said that the new funding will not be used for acquisition but for “the future.”

Yahoo! Inc. (NASDAQ:YHOO) is rumored to have an interest in buying New York based URL shortening and tracking company Bit.ly. The talks are still in early stages. However if Bit.ly plans to sell, we could expect it to go for over $10 million given that they raised $3.5 million in VC funding from Ron Conway and other angel investors.

Socialcast is a service that combines the activity stream from large companies and integrates them with social bookmarking sites, Microsoft Outlook, Microsoft Sharepoint, mobile devices, and Adobe AIR applications. Socialcast has recently raised $8 million Series B from Menlo Ventures and True Ventures.

Last year Socialcast raised $1.4 million from True Ventures and other angel investors. Om Malik of GigaOm.com joined the board of directors at Socialcast as well. Sonja Hoel Perkins of Menlo is now on the board of directors at Socialcast too. [TechCrunch]