Dickerson said that the new round of funding was not a move to cover operational costs. Etsy has been profitable since 2009 and has 300 employees around the world. “This summer, Etsy will be a seven-year-old company,” said Dickerson. “But it’s not a mature company from a business perspective. I really feel like there is still a lot of growth for Etsy and its community.”

Etsy plans to hire community managers and open offices in countries where Etsy can grow quickly like Australia and Canada. “There’s a huge opportunity for Etsy to grow the opportunities for sellers,” he added.

Etsy has 875,000 sellers and 15 million users around the world. Every month Etsy receives 40 million unique visitors. Last year Etsy processed $525 million in sales. About one-third of the transactions on Etsy happen with a seller or buyer outside of the U.S.

GetGlue currently has 2 million users, which is up from 750,000 from about a year ago. By about the end of the year, the company hit about 100 million check-ins. In order to reduce the noise of profane and short comments, the company integration a curation feature using natural language processing to filter. Engagement levels had climbed by about 50% since then.

GetGlue founder and CEO Alex Iskold said that they plan on using the funding for product development. The company will be launching updated apps for the iPad, Android, and Kindle Fire this year.

Zynga will be valued at about $7 billion based on 699.3 million shares understanding. This would put Zynga’s valuation at close to Electronic Arts, which is hovering at about $7.65-$7.8 billion. Zynga makes money from selling virtual goods on social games such as FarmVille, CityVille, and Words With Friends. Zynga has about 230 million monthly active users and they have a close-knit relationship with Facebook. Some financial analysts believe that Zynga is rushing their IPO before tech stocks take a major plunge.

Zynga was founded in 2007 in San Francisco by Mark Pincus. Pincus named the company after his dog Zinga. Zynga recorded a profit of $27.9 million on revenues of $597.5 million in 2010. In the first 9 months of 2011, Zynga hit revenues of $828.9 million. Even though Zynga’s revenues are growing, their number of daily active users has fallen two quarters in a row. Zynga currently has 2,500 employees.

The proceeds from the IPO will go towards working capital. About $83.6 million will be spent to satisfy tax withholding obligations that is related to stock of current and former employees. They also plan to use a portion of the proceeds for charitable causes through Zynga.org. In the sale, Zynga will have three classes of shares: Class A, Class B, and Class C. Pincus owns Class B shares and all of the company’s Class C shares. After the IPO, Pincus will control 36.2% of the company voting power. Pincus will not be selling any of his shares in the IPO. No other executives plan on selling stock either.

Some of Zynga’s venture capital investors will be selling their stock, including Institutional Venture Partners, Union Square, Foundry, and Avalon. Google will be selling 1.7 million shares. Kleiner Perkins will not be selling any of their stock.

[AllThingsD]

Traffic increased to 13 billion page views per month. There are now 30 million blogs that have been created using Tumblr. Across these 30 million blogs, 40 million posts are being generated per day. About 623 million minutes per month are being spent by people looking at Tumblr blogs.

“Tumblr has come far since we began our journey,” said Mr. Karp. “From the early users signing up to easily share all of the things they cared about, to the global community today where creators have an incredible opportunity to reach an audience of hundreds of millions, it’s been a remarkable four years.”

Skillshare co-founder and CEO Michael Karnjanaprakorn believes Skillshare can continue to grow and start building physical schools. Fred Wilson of Union Square plans on offering MBA Mondays classes on the website this fall. Skillshare previously raised $550,000 in a seed round of funding from Founder Collective, SV Angel, and other angel investors.

[GigaOM]

Betabeat reports that the rapidly-popular music service Turntable.fm has found an investor in Union Square Ventures. The company is reported to have raised about $7.5 million, having chosen an investment from Union Square-based USV instead of the west coast’s Kleiner Perkins or Accel. It’s possible that other investors from the founders’ other startup Stickybits may join in the funding, including First Round Capital, Lowercase, Polaris, Chris Sacca and Mitch Kapor.