Dow Jones VentureSource put out some data on Web 2.0 deals in the U.S. earlier this week that I’ve put together into these charts. The first one above shows how much money has been invested in Web 2.0 startups so far this decade. In 2007, venture capital poured into Web 2.0 companies at a record pace—$1.34 billion. That was up 88 percent from the $716 million invested in 2006.

But did Web 2.0 deals peak last year? Take out the $300 million raised by Facebook, and the amount invested was up only 46 percent, a marked slowdown from the 132 percent dollar growth the year before. (The amounts charted above, starting with 2001, are $68 million, $29 million, $79 million, $232 million, $716 million, and $1.343 billion)

The growth in the number of deals is also slowing. Last year, there were 178 Web 2.0 deals in the U.S. That was up only 25 percent, after doubling every year for the previous four years. And in Silicon Valley last year, the number of deals actually dropped from 74 to 69.

In 2007, the median deal size was $5 million, up 22 percent. And the median pre-money valuation was $10 million, up 66 percent (from $6 million in 2006). Both deal size and valuation for Web 2.0 companies remained below the average VC deal across all industries ($7.6 million and $16 million, respectively)

Here is a list of some of the biggest venture financings of 2007, including ones for Facebook, Ning, Zillow, Veoh, MyStrands, and Hi5. Slide’s $50 million isn’t included because that was in 2008. Hey, maybe things haven’t peaked after all.

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BBVA is a financial services group with more than $782 billion in total assets, 42 million customers in 40 countries and a market capitalization of approximately $95 billion. This brings total financing for the Corvallis, OR based startup to $55 million, significantly more than $5 million raised by London-based Last.fm which started around the same time (later sold for $280 million).

MyStands core products are a music recommendation engine for discovering songs you love while on your computer, mobile, and even playing them in bars you frequent. They recently launched a music video product that puts a more pleasant face on YouTube’s music video archives. They’ve made over $12 million in sales from these products during 2007.

Even with revenues pacing nicely, $24 million is a lot of capital and its not clear they really need it. The company says the money will go towards expanding their recommendation engine beyond music, although they’re not saying how quite yet. The most MyStrand’s VP of Communications Gabriel Aldamiz-Echevarria will say is that “…the general idea is to keep building technologies that will help people discover different products and services.”

Well, now they have quite a war chest to pursue that goal.

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MyStrands, provider of a music recommendation service, has launched a slick new website at MyStrands.tv for finding music videos hosted on YouTube.

Users can browse music videos by artist or genre and play them in a large player. The system also recommends videos based on your viewing habits and input.

A social network of sorts is integrated into the service. You can view friends’ favorite videos and artists and set up your own personalized channels. There is also a stumbling feature in which you can view another video based on the artist of the video you are currently watching.

Similar music video discovery services include Middio, MOG, and iLike. Of course, you can always just browse music videos on YouTube itself, many of them legal.

It certainly makes sense to build services that exploit the music videos hosted on YouTube, as the majority of the top 10 videos on YouTube are music-related.

MyStrands recently raised $25 million in Series B funding.

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MyStrands delivers a product that although sharing similarities to Last.fm, also extends to the desktop with the inclusion of locally stored music in its recommendation equation.

CEO Francisco Martin said that the company was committed to remaining independent and that the funding will help the company continue in developing its product.

MyStrands has struggled against competitors such as Last.fm, iLike and Pandora. It’s a difficult market to crack that hasn’t been helped by a name change from MusicStrands along the way. Having said that, MyStrands is a decent offering; the platform hooks nicely into iTunes and recommends music as you’re playing songs in a seamless fashion. $25million isn’t a small figure, I’m sure the company will put it to good use.

Check out MyStrands’ profile.

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FineTune

Finetune is a relatively new application written in Flash. It’s my favorite out of the bunch and I covered it on my ZDNet blog. What makes Finetune stand out is that in addition to the standard “artist radio”, it allows users to build playlists of specific songs. The minimum playlist is 45 songs and you can have up to three songs per artist. With custom playlists, you can make sure you’re only listening to songs you want. Finetune also gets points because in addition to the web version, it runs on the Wii and there is an Apollo-based desktop client.

Pandora

Pandora is the granddaddy of the bunch and it’s one of the Web 2.0 applications that Mike can’t live without. It is built using OpenLaszlo and provides the cleanest experience out of all the applications on the list. Pandora uses the Music Genome Project to generate a stream of songs that you’ll like based on how you rate previous tracks. You create stations around artists, songs or albums and you can provide feedback (thumbs up or thumbs down) on the songs Pandora chooses. Tech Crunch’s coverage of Pandora is here.

Last.Fm

last.fm is another Web 2.0 veteran and is more socially-slanted than the others. Tagging is a big part of the last.fm experience and you can tag any song that comes along in addition to being able to listen to “user tag radio” which is based on tracks that users have tagged with a specific genera. last.fm has a separate desktop application that “scrobbles” the songs you listen to and generates a music profile that you can share with friends. See Tech Crunch’s coverage of last.fm here.

MOG

MOG is all about a music community. It’s very blog-centric and revolves around user pages, or “Mogs”. You build your Mog around songs you’re listening too and artists you like. That builds something like a profile for you that users can browse to and comment on. It also uses this profile to suggest other people or music that you might like. Tech Crunch’s coverage of MOG is here.

RadioBlogClub

radio.blog.club is another music service that builds playlists based on an artist or song you specify. I’ve heard the least about it, but the interface is good. When you browse to the site and type in an artist or song, it builds a playlist of 10 songs for you. In my experience the recommendation system for radio.blog.club wasn’t the best, but they do allow you to embed their player on your blog. This seems to be the least robust of the applications but still worth a mention.

MyStrands

MyStrands started off as MusicStrands and is a downloaded desktop application that works with your current music players to build recommendations based on what you’re listening to. In many ways it’s similar to last.fm’s “Scrobbling” but MyStrands ties in with your mobile device and seems to provide a more social recommendation system. By tying in with music on mobile phones, MyStrands is a bit ahead of the others and it helps tie all of your music collections together. Tech Crunch’s coverage of MyStrands is here.

iLike

iLike is an iTunes plug-in that makes your music library more social. It tracks what you’re listening too and recommends songs and people with similar tastes. It hooks in nicely with the iTunes interface and recommends music as you’re playing songs. I listen to some pretty obscure stuff and the recommendations were good. They also have a widget for MySpace that is formatted to sit nicely in the “Music” section of the profile. Tech Crunch’s coverage of iLike is here.

iJigg

iJigg is a digg-esque music discovery service that I had a lot of fun playing with. Users vote on individual songs and the most popular rise to the top of the front page. You can’t do any “related artists” with iJigg, but you can browse by genre so that you can target your music discovery. The iJigg player can also be embedded on other sites so you can share it with friends. As this service gets more popular, I think it will be a great way for bands to get discovered. Tech Crunch’s coverage if iJigg is here.

Ryan Stewart is an expert in Rich Internet Applications. Ryan writes his personal blog here and also writes a RIA blog for ZDNet called The Universal Desktop.

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