In classic Reddit style, the popular link-sharing site announced Tuesday not only that it's raised $50 million in Series B funding, but also that it plans to give back 10 percent of the equity to the community itself.
Reddit, the so-called front page of the Internet, used its blog to confirm the funding round, which was widely reported earlier this month. As expected, prominent venture capital firms Andreessen Horowitz and Sequoia Capital took part in the round.
Japan's Softbank is in talks to acquire Dreamworks Animation, The Hollywood Reporter said late Saturday citing a source. The Wall Street Journal later reported the same news citing "people familiar with the matter."
Softbank is best known as operator of Japan's scrappy, third-ranked cellular carrier. In 2013, it bought the number three U.S. wireless carrier, Sprint, and earlier this year made a play for fourth-ranked T-Mobile USA, but has given up on that acquisition.
Ello, the social network site intended to serve as something of an antidote to ad-stuffed Facebook, was hit by a suspected Distributed-Denial-of-Service attack today.
The outfit, which has gained plenty of press coverage in the past week after employing the classic invite-only marketing trick to lure in more users, said on its status page within the last hour that it had suffered a major front-end outage on its network.
An online fundraiser for legendary phone phreaker John Draper, better known as Cap'n Crunch, has passed its target $5,000 in just three days. Draper himself doesn't even know who started the fundraiser, but the money is intended to help with his medical bills. According to a recent blog post, he suffers from both degenerative spine disease and C. Diff, an inflammation of the colon.
Yahoo, which got its start as a digital phone book of websites, is closing that book.
Yahoo will shut down its Directory service on Dec. 31, the company said Friday in a blog post. As for why, the company did not say much beyond this: "While we are still committed to connecting users with the information they're passionate about, our business has evolved and at the end of 2014, we will retire the Yahoo Directory."