Yahoo is making a number of changes to its default search experience tonight to add more structured data to results. Yelp, Yahoo Local and LinkedIn SearchMonkey widgets are being added to search results automatically, eliminating the need for users to go into the search gallery and add them manually.

SearchMonkey is a key part of Yahoo’s attempts to embrace the semantic web and open standards in general.

With SearchMonkey, site owners create “applications” for Yahoo search that can be installed by users in the same sense that Facebook applications can be installed. Each application modifies results for a certain URL specification (for example, all reference pages on Wikipedia or product pages on Amazon). Modifications include both changes to the basic elements of a search result (the title and description) and additions such as an image, deep links, and key/value pairs.

Users can also add additional widgets via the Yahoo Search Gallery.

Here’s the Yelp search result example we used in our first post about SearchMonkey:

Macrumors reports that Apple’s App Store was selling a tethering app compatible with the iPhone (both 3G and EDGE) for a brief period earlier this evening. The $10 application, called NetShare, was developed by Nullriver software, and would be a godsend for many iPhone owners. After going up around 8PM EST to the elation of a lucky few, the application was pulled down around 20 minutes later.

Phone tethering allows users to access the internet from their laptop computers wherever they get service on their cellphone carrier’s data network. The feature is common on many phones with high speed (namely 3G) data access, and has been noticeably absent from iPhones. While 3G is typically slower than most Wi-Fi access points, having internet connectivity on the go is a huge plus for many people – enough so that many carriers charge on the order of $30 a month to enable it.

Users with jailbroken (hacked) iPhones have been able to enable tethering to their phones through a complicated process for some time, but such tethering is prohibited by AT&T’s terms of service. The release of NetShare seemed to indicate (albeit briefly) that AT&T had changed its mind on the matter.

Now, users who try to download the application are told that it is no longer available in their country. So what happened? The app may have snuck past Apple’s approval process – but with reported wait times of weeks (or months) it seems unlikely that anything appears there accidentally. Then again, Apple has been dealing with a massive influx of new applications – they may simply be overwhelmed and are getting sloppy.

It is also possible that the app was supposed to be limited to a few select countries, and was accidentally posted on the US store. Finally, AT&T may have really changed its mind, but it seems unlikely that they’d pass up the chance to tack one more fee on our data plans.

Tapulous, the company behind Tap Tap Revenge, has announced that the popular iPhone app will hit 1 million installs some time this weekend. The app is the second we’ve heard from to hit the milestone (Facebook reached it last week), and is another testament to the extremely rapid growth some applications have seen on Apple’s newly launched App Store.

Tapulous CEO Bart Decrem says that the application has been downloaded about 900 thousand times since its launch, and expects to hit the 1 million user milestone over the weekend. Tapulous’s iPhone Twitter client Twinkle is significantly less popular, with around 80,000 installs, but it was released after Tap Tap Revenge. Decrem notes that there is a total install base of about 5-6 million iPhones and iPod Touches running the 2.0 firmware (which is compatible with the App Store). With about 1 million downloads, this puts Tapulous applications on around 20% of all devices – a very impressive feat.

One of best features in the original version of the game (which was only available on hacked iPhones) was that users could create tab sheets and play the game with any song in their iPhone’s library. Unfortunately, Apple prohibits any developer from accessing the iPhone’s library with a native application, so Tapulous has been forced to come up with a different way to introduce new content to the game. For the time being they’re offering free downloads of new songs directly through the app, but these songs have all been submitted to the company by indie artists (impressively, 2.5 million songs have been downloaded so far).

As it turns out, a number of record labels have taken notice of Tap Tap Revenge’s quickly growing install base, and are eager to use it as a means of exposing users to new music. Decrem says that the company is in talks with both indie and more well known artists to create a premium package of songs, which will likely be released in the App Store as a separate game for a small fee. Subsequent packages will also likely be released as their own independent games, as Apple does not currently offer a way for developers to sell new content from within an application.

NBC has launched its online video hub for the 2008 Olympics, which features free on-demand video for over 20 sports. In order to maximize quality, the videos are available as downloads (you can start watching before the download finishes) and will be in “up to HD” quality. Unfortunately, the video downloads will only be available on Windows machines running Windows Media Center – once again Mac users are left in the cold, likely because of DRM issues (and the fact that Lenovo and Microsoft are sponsors).

While the Olympic ceremonies don’t kick off until August 8, NBC has already posted footage of Olympic trials. Once the games begin, NBC expects to have the footage available around 12 hours after each competition (which shouldn’t be too annoying given the time difference).

Microsoft is participating in the partnership, so access to the videos will be integrated into Media Center’s main panel. Users can also visit this TVTonic page, and the content will be available directly from NBCOlympics.com beginning next week. You can read more about the service at the TVTonic blog post here.

Recently, there’s been a growing wave of startups and products appearing that are bringing 3-D virtual worlds to the browser. These include Vivaty, Google’s Lively project, and the Electric Sheep Co.’s WebFlock. And I’ve seen a few stealth companies working the same vein.

None of these are as fully featured or immersive as Second Life, which requires a separate desktop client download. But it may not matter because a good-enough experience available via standard browsers may eventually qwn Second Life. Linden Lab, which operates Second Life, is working with IBM and others to make virtual worlds interoperable with each other. Still, for the most part, they don’t play nicely with the Web.

Last week I caught Linden Lab founder Philip Rosedale on video at Fortune’s Brainstorm conference in Half Moon Bay, and asked him if Second Life is threatened by browser-based virtual worlds. In the video above, he argues that the browser is not yet ready to deliver the type of experience that you can get in Second Life. He does acknowledge that virtual worlds need to be opened up and standardized. But he doesn’t see the browser as a viable alternative to client-based virtual worlds any time soon.

Is he right, or is he in denial?

Music and movies may grab the most headlines when it comes to piracy, but many content providers on the web are also having trouble managing their images, which are easy to crop, resize, and copy. Some services, like Attributor, try to monitor and track offending images, but the ultimate solution may well lie in removing the temptation in the first place by offering cheap and easy to find legal images.

Earlier this year, GumGum launched an image licensing platform that was designed to help publishers quickly locate and license images. The site served as a content hub, offering a searchable database of images that could be licensed on a CPM basis or for free alongside an ad.

Unfortunately, every one of GumGum’s images was served as an embeddable Flash widget, which made them both clunky and annoying for publishers, as the images couldn’t be resized or modified. The use of Flash allowed GumGum to include their ads with the images, and also made it harder for people to rip them off (though you could always just take a screenshot). PicApp, a similar image search and licensing platform, uses Flash as well and suffers from the same issues.

Today GumGum has announced a new approach to their licensing platform, and this time, there won’t be any Flash involved. To use the system, users need only include a single line of JavaScript on their page. From there, they can include any image they want using a standard HTML tag. The pricing models will be the same: publishers can either pay a fee based on image impressions, or they can include ads on top of their images. GumGum’s new platform can detect licensed images and overlays the ad on top of it, so there’s no need to use a special widget.

Another key shift in GumGum’s new approach is its decision to stop acting as an image hub – you’ll no longer be able to search through content catalogs to find an image. Instead, GumGum says that it will connect you directly with the content providers, who typically offer their own databases. By taking this approach, GumGum is turning away from the typical consumer and is becoming more of a B2B solution for blogs and sites that frequently rely on licensed images.

GumGum isn’t going to be able to stop image piracy – there’s simply no way to get around the “Print Screen” function without including an annoying watermark. But businesses who can’t afford to be caught up with illegal content may well appreciate GumGum’s new more flexible system, provided the company can make good on its arrangements with content providers. The service has already landed some big customers, including MTV Europe.

In conjunction with the launch of the new platform, GumGum has annouced a Series A funding round of a reported $1.2 million.

One month after launching its new recommendation system, Digg is already reporting positive results. Digg recommends stories based on other members with similar voting patterns and interests. Chief scientist Anton Kast writes on the Digg Blog:

- Digging activity is up significantly: the total number of Diggs increased 40% after launch.

- The Recommendation Engine is running strong: at any given point in time, the system is generating over 54 Million Recommendations, with the average Digger having nearly 200 Recommendations from an average of 34 “Diggers like you”.

- Friend activity/friends added is up 24%.

- Commenting is up 11% since launch.

Digg’s recommendation engine takes a Last.fm approach to finding people’s whose tastes overlap with yours and then suggesting stories they’ve Dugg up but that you’ve missed. It is collaborative filtering for news.

As Digg becomes more mainstream, it needs technologies such as this to bring it back to its glory days when everybody was interested in the same niche categories. Social recommendations work best when they are extracted from niche communities who are obsessive about one or two topics. Digg started out as a haven for hardcore techies, but has branched out.

The recommendation system is designed to, in effect, help Diggers carve out their own niche communities again. If you happen to like tech industry news, you will see stories from other like-minded Diggers. If you prefer politics or sports, you’ll get those stories. And if you like a combination, the system will grab recommendations from each appropriate bucket.

At least, that is how it is supposed to work in theory. The recommendations seem decent. But I personally haven’t noticed anything that really strikes home. Over time, it should get better.

Embedable stock charts are nothing new, and neither are interactive charts that give you price information as you mouse over different dates. Both Yahoo Finance and Google Finance offer interactive charts on their respective sites, and Yahoo offers embeddable static charts. Neither one brings that interactivity to chart widgets that can be embedded on other sites.

But starting today you can get interactive, embeddable WikiCharts like the one below from Wikinvest. Hold the mouse down over the chart and you can pan it from left to right. Hover over the line and you will get date, price, and volume, information.

And it’s a wiki, so anyone can add an annotation. Do you think you know what’s been driving Yahoo’s stock price up and down lately? Stick in your best explanation before or during big price movements as an annotation.

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Secure in knowing that he will get minority seats on Yahoo’s board, Carl Icahn has decided to skip tomorrow’s shareholder meeting. He doesn’t want to cause a “media event,” he says. (Because he’s so shy, you know).

Seriously, it’s probably a good idea for him not to show up. On his blog he explains his reasons, and his thinking on why he settled for a compromise deal with Yahoo instead of going ahead with a full proxy battle:

Realizing I could not gain control, I saw no point in spending the final two weeks in a debilitating fight, where little would be accomplished except to build animosity between both camps and the end result would be no better than the compromise that was reached. In fact, in winning a minority position on a board by a fight to the end, you always have to be concerned that you may be “boxed” out by the majority that remains on the board. Committees can be formed that you are excluded from and you are given information only on a need to know basis. An important part of my compromise with Yahoo is that the board in the settlement agreement has agreed “that any meaningful transaction, including the strategy in dealing with that transaction, will be fully discussed with the entire board before any final decision is made.” Additionally, if any committee is formed to negotiate a meaningful transaction, Carl Icahn will be a member of that committee.

In other words, it might become a media and shareholder circus tomorrow. But don’t look for anything “meaningful” to happen until afterwards, when the new board is in place.

YAY! The long awaited, much promised, never delivered Delicious 2.0 will launch in the next few minutes, just like they promised again last week.

The new Delicious is just like the old Delicious, except for the way it looks. They’re also promising that it will be “faster, easier to learn,” and “hopefully more desirable.”

Speed: We’ve moved to a new infrastructure that makes every page faster. This new platform will enable us to keep up with traffic growth while ensuring Delicious is responsive and reliable. You may not have noticed, but the old backend was getting creaky under the load of five million users.

Search: We’ve completely overhauled our search engine to make it faster and more powerful. Searches used to take ages to return results; now they’re very quick. The new search engine is also smarter, and more social: you can search within one of your tags, another public user’s bookmarks, or your social network. Now it’s easier to take advantage of the expertise and interests of your friends, not to mention the Delicious community at large.

Design: Finally, we’ve updated the user interface to improve usability and add a few often-requested features (such as selectable detail levels and alphabetical sorting of bookmarks). Our goal has been to keep the new design similar in spirit to the old one, so all of you veterans should be able to jump in without any confusion. At the same time, we’re hoping that newcomers to Delicious will find it easier to learn.

Users will need to log into their accounts and get a new browser cookie. Honestly, I rarely visit Delicious any more, the Firefox plugin is so good that actually visiting the site isn’t necessary. So all I’m really hoping for here is a stable service. If there are glitches, I hope they fix them quickly.

As I said in our previous posts, it’s too bad Delicious 2.0 couldn’t launch before founder Joshua Schachter left the company in frustration. I called Schachter to ask him what he has to say about the new launch. His response – “Good luck. I hope it goes well.”

For several years, Sun CEO, Jonathan Schwartz has lobbied the SEC to allow disclosure of financial information through corporate blogs. In a landmark announcement, it seems that Mr. Schwartz may indeed get his wish, and with it, a historical decision that could break the age-old shackles that bound businesses to traditional media and distribution channels in order to satisfy full disclosure.

In a speech yesterday, SEC special counsel Kim McManus outlined new guidance the SEC is about to give companies on when they can use their Websites, including blogs, to disclose material information. What this means is that we can now finally kill the press release, at least in its current form (more on that below).

The IR Web Report explains, “UNDER certain circumstances, companies can rely on their websites and blogs to meet the public disclosure requirements under Regulation FD (Fair Disclosure), according to new guidance unanimously approved by the US Securities and Exchange Commission today.”

Chairman Christopher Cox opened up the discussion by recognizing that the Web has matured providing a big step forward for investors, “Ongoing technological advances in electronic communications have increased both the market’s and investors’ demand for more timely company disclosure and the ability for companies to capture, process and disseminate this information to market participants.”

The SEC outlines boundaries for sharing information as well as holding companies and their employees liable for the information that they post on blogs and discussion forums.

Regulation FD and Social Media

The SEC is taking the right steps to embrace the new tools and services that reach people in addition to wire services. With the recognition of blogs as a viable form of disclosure, under certain circumstances of course, the SEC is officially recognizing Social Media and in a sense, socializing the rules associated with Reg FD.

Perhaps, the most significant change stemming from the new SEC guidance is that Web-based disclosure does not have to appear in a format comparable to paper-based information, unless the Commission’s rules explicitly require it.

This is music to my ears as it finally opens the door for the Social Media Release.

For a few years, Todd Defren, Chris Heuer, and I have not only defended and charted the opportunity for Social Media Releases (SMRs), but also fielded emotionally-charged questions from the financial and IR communities asking about whether or not an SMR would ever meet disclosure requirements for Reg FD, and without it, what good would it ever be…

While there have been many discussions and debates to whether a Social Media Release should cross the wire and if so, what format and design it should resemble, my belief is that SMRs should always reside on dedicated blog platforms (WordPress, MoveableType) as part of a Social Media Newsroom. And, Social Media Releases should only complement a traditional press release and disclosure activity and not replace it.

Originally introduced by Todd Defren in response to Tom Foremski’s call for the death of press releases, the SMR represents a new socially-rooted format that complements traditional and SEO press releases by combining news facts and social assets in one, easy to digest, and repurpose, tool.

Giving everyone what they need and how they need it, requires a different approach. Almost every press release issued today is done so without video or audio, and many still do not include links to additional information or supporting content.

While these multimedia pieces are underlying components of SMRs, there’s more to the presentation than multimedia content. The value of aggregating Social Media in one digital release connects information and content across social networks with the people looking for it, as well as the conversations that bind them together.

Picture a blog post that announced corporate data (not unlike a standard financial press release) but now, along with a custom video hosted from YouTube, supporting graphs and exec images funneled from flickr, pre-recorded audio podcasts/conferences piped in from iTunes, packaged market data sourced from Docstoc, related company and landscape stories and public commentary linked from Delicious. Content can also push to micromedia services such as Twitter, Identi.ca and FriendFeed to contribute to the company’s brandstream. In a sense, the Social Media Release, hosted as an elegant and media rich blog post, acts as an aggregated hub for these disparate brand beacons, and at the same time, each piece is findable and sharable within each social network and they all point back to the Social Media Release.

Also, the SMR can feature tags and outbound links to increase exposure in social networks and blog-specific search engines.

Read More

I think it’s safe to say that iPhone OS 2.0 is far from perfect and anyone saying otherwise must be on Apple’s payroll. Other than the horrendous battery life (on the iP3G), what else do we all hate about the OS? The inability to run background apps! Sure, Apple’s argument against a Windows Mobile-like task manager makes perfect sense, but the ability to run background apps is something we’ve all grown accustomed to and it would be the ‘killer app’ as they say around these parts, right?
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Oh, and is anyone’s white iP3G starting to crack?

Kleiner Perkins is adding to its iFund portfolio of iPhone-focused startups. It’s latest investment is a series A round in stealth gaming company ngmoco. Kleiner partner Bing Gordon, formerly chief creative officer of Electronic Arts, will join the board (he is also on the board of Zynga, which KP also recently invested in through its regular fund).

Ngmoco’s CEO is another EA refugee, Neil Young (not the aging rock star). Young oversaw the development of hit totles at EA such as Lord of the Rings, The Sims 2, and the about-to-be-released Spore. He left EA in June, and wants to both develop its own games and finance and produce games from other developers. He is applying the same studio model that’s worked so well for EA to a new class of mobile games for the iPhone and future devices that have similar characteristics.

The iFund is a $100 million fund set aside to invest in startups targeting the iPhone as a platform. Other announced investments include mobile social networking service Pelago (which makes Whrrl) and iControl (which lets you control you home security through your home network and your iPhone).

The size of the round was not disclosed.

Yesterday, one day after taking down Scrabuluos in the U.S. and Canada in response to a lawsuit from Hasbro, the Indian brothers behind Scrabulous, Rajat and Jayant Agarwalla, released a brand new crossword-like game on Facebook called Wordscraper. The brothers have obviously been preparing this countermove for a long time. Wordscraper is designed to get around any of the intellectual property claims Hasbro has made against Scrabulous, especially the trademark infringement claims. The name is not a rip-off of Scrabble, the board looks very different, and there are even some new twists to the rules.

The brothers have even foregone the familiar square tiles for circles. Quite frankly, I don’t like this. It hurts my eyes. (Call me a traditionalist). It all blends together and makes it hard to grok the board at a single glance.

The gameplay is much better. Wordscraper is like Scrabble with wild board tiles. You can create your own board by putting assigning different point values to each space where a player puts her letters. For instance, instead of a set pattern, you can move double-word or triple-letter score tiles around the board before you start playing, and you can go crazy and stick in quintuple-word scores. (Go easy on those).

When Scrabulous was taken down, it had half a million daily active users and Hasbro’s/Electronic Arts’ official Facebook Scrabble game had only about 15,000. Two days later, the official Scrabble beta is up to 63,000 daily active users. Wordscraper has 3,600 daily active users. Now the race is on. Where will the bulk of Scrabulous fans go?

Wordscraper has a good chance of unseating the official Scrabble. (In a TechCrunch poll with 2878 respondents, 66 percent think that Hasbro went too far with its lawsuit and will suffer a resulting consumer backlash). Just please, do something about those circles. They make me dizzy.

CG’s Doug writes:

Remember the great Blu-ray versus HD DVD debate of 2008? When Blu-ray finally won, some claimed that it didn’t really matter, as streaming and/or downloadable online video would soon be the reining champion of the HD movie marketplace.

Whatever your opinion, it appears that LG is attempting to head things off at the pass with the introduction of the LG BD300 Blu-ray player with built-in Netflix streaming. Excelsior! It’ll be available this fall, will play Blu-ray discs and up-convert standard DVDs to 1080p, and stream 12,000+ Netflix titles straight to the box via the magic of the interconnected network of computers (In-ter-net).

Read more…

Joss Whedon’s Dr. Horrible’s Sing Along Blog is a 40 minute musical that stars Neil Patrick Harris as Dr. Horrible, a bumbling, video blogging super villain who’s trying to get into the Evil League of Evil. The project is available on iTunes for $4 – this week Hulu also put it on its site for free with commercials.

The video is an experiment in a new type of video format that is professionally produced and designed to spread virally (although Whedon is stopping short of supporting BitTorrent trading). Whedon wrote a hilarious guest post on the Hulu blog about the show as well.

Watch the whole thing below, assuming you are in the U.S. And if you missed it, watch our interview with Hulu CTO Eric Feng from last weekend.

Update: So we’ve confirmed that the video has no international restrictions. Hulu has said in the past that they can flip a switch for any particular video to remove the U.S.-only restriction, but this is the first time I’ve confirmed it for a particular video.

Caterina Fake, who co-founded Flickr along with her husband Stewart Butterfield in 2004, has announced her plans to join a fledgling new startup called Hunch. Flickr is one of the web’s most popular photo-sharing sites, and was acquired by Yahoo in 2005 for $35 million. Since then, Flickr has been one of Yahoo’s most successful properties, but Fake left the company in June as part of the executive exodus from the struggling search giant.

In her blog post on the matter, Fake says that she will be joining Hunch as Chief Product Officer. Details about the New York-based startup are very slim at this point, and Fake’s description doesn’t shed much light on the matter:

“What is Hunch? Well, as you might assume, it is a consumer internet application, it will have a lot of user participation, and it is more than a little fun. Beyond that, we’re still making it up.”

Beyond that nebulous description, Fake offers few details beyond stating that Butterfield won’t be involved with the project.

The WSJ is reporting that Google is set to launch a venture fund to give it the option of investing in startups instead of just flat out buying them. The fund will be led by Google’s SVP Corporate Development David Drummond and Bill Maris, a long time business friend of Anne Wojcicki, Sergey Brin’s wife. Maris is a tech entrepreneur with a degree in neuroscience and worked with Wojcicki at a San Francisco-based for-profit company called Catalytic Health.

This hasn’t been confirmed by Google, and it’s clear they’ve been thinking about a fund off and on for years. From the article:

The move would make Google the latest technology giant to take on a more-formal role in seeding start-ups. Intel Corp. has had a large venture-capital arm for years, as have Motorola Inc., Comcast Corp. and many others. In the consumer-Internet area, Walt Disney Co.’s Steamboat Ventures has invested in a number of Web start-ups. So has Amazon.com Inc., which has funded a number of young companies without structuring a formal fund.

Their track records have been mixed. Corporate venture-capital arms have been hampered by challenges that traditional venture-capital businesses don’t face. Venture capitalists invest in private start-ups at an early stage, usually in hopes of a big payout if the company is sold or if its stock goes public.

Many start-ups fear that taking corporate money limits their options and comes with strings that could turn away other potential investors — such as a right to buy the company at a later date. Some funds with less competitive compensation have struggled to retain managers, and corporate venture funds often don’t allow senior employees to invest personal money in their funds, while other venture funds typically do.

This wouldn’t be the first time Google started a fund to invest in other companies. In June 2007 they launched Gadget Ventures, a pilot program that, in part, invests seed money in companies looking to develop for the gadgets platform. They have also previously invested through Indian VCs.

There is no shortage of social news aggregators looking to help users cut through the noise on the web. Digg is by far the most popular, with similar offerings from Reddit, Newsvine, and a host of others. Today, Socialmedian (not to be confused with SocialMedia, the ad network) is launching its own take on social news. The site has just launched in public beta, and can best be compared to Digg, with some elements of Twitter and FriendFeed thrown in.

At first glance, Socialmedian bears more than a slight resemblance to Digg. Each story is ranked according to the number of votes (called Clips) that it has received, with an expanding tab for comments and sharing. Even the color scheme is very Digg-like.

Founder Jason Goldberg acknowledges that Socialmedian does share some features in common with Digg, but says that its focus is on helping you find stories that you’ll be interested in, rather than finding stories that are popular and appeal to the masses. To do this, the site allows users to create their own personalized networks, or chose from over 1000 existing networks. Each network monitors certain keywords for stories submitted across the entire site, and generates a list of related stories. Users can also specify RSS feeds they’d like to automatically pull stories from, and they can use a sliding “Noise” meter to limit the number of stories displayed.

Socialmedian also uses a Twitter-like follow system to help generate relevant results. Whenever you come across a story submitter than you particularly like, you can flag them as a “Newsmaker”. From then on, their stories will receive a higher ranking, and are more likely to appear on your main news feed.

Because the site is so young, it’s hard to get a feel for how well these filters work (the vast majority of the stories on my front page have fewer than 10 votes). The site has far more customization than Digg, but its ultimate success will lie in its ability to cut out the noise – something we won’t know until it has to deal with thousands of stories at once. The site will also see competition from other social news sites like Reddit, which mimics Socialmedian’s network function by allowing you to “roll” your own customized feeds.

Nokia doesn’t want to miss the next wave of mobile technologies so it is doubling down on its venture investment activities. The cell phone giant is putting another $150 million to work in Nokia Growth Partners, a fund in which it is the only limited partner. This brings the total capital in the fund to $250 million (Nokia initiated the fund with $100 million in 2004). That is in addition to a $100 million fund of funds also run by Nokia Growth Partners on behalf of Nokia, which is used to sprinkle cash around to other VC firms.

So far the fund has done best investing in mobile chip companies, some of which have been acquired by ATI (BitBoys for $44 million), Broadcom (Global Locate for $143 million), and Dolby (Coding Technologies for $250 million). But it is also an investor in mobile video service Kyte. Generally, it is a alter-stage growth fund that looks for companies with a product ready to ramp up.

The new cash comes at a time when the mobile Web is generating excitement again in Silicon Valley. Most of that excitement right now surrounds the iPhone. Throwing around a little cash to encourage startups to develop cutting-edge apps for Nokia phones is not a bad strategy. The fund will also invest more heavily in China and India, where mobile growth far outstrips the U.S.