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Bombd Sets Up Shop In Venice, Aims At Social Networking

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Bombd , a startup which develops a social networking and messaging app revolving around sharing instant photos with others, has set up shop in Venice Beach. The startup--originally started in Australia--said its team and founders have moved to Venice Beach to scale the app in the U.S., READ MORE>>.

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Report: Snapchat Valued At $10 Billion In New Funding

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Venice-based Snapchat is in the midst of raising a new round of funding, led by storied venture capital investor Kleiner Perkins Caufield & Byers, which valued the company at close to $10 billion, according to a report. snapchat venture capital rumor valuation kpcb investment messaging social networking'

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Yahoo Planning Big Investment In Snapchat, Says Report

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Yahoo is planning a big investment in Venice-based Snapchat , in a deal that values Snapchat at $10 billion, according to a report over the weekend. snapchat yahoo investment venture capital valuation social networking' READ MORE>>. snapchat yahoo investment venture capital valuation social networking'

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Lawsuit Targets Snapchat Founders, Venture Investors

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A new lawsuit, targeting Venice, California-based Snapchat --the hottest company to emerge out of the area''s high tech startup cluster in recent years--says that the company''s founders stole the idea for the company from him after forcing him out of the company early on in its history. snapchat legal lawsuit social networking mobile'

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Altly Reveals Seed Investors

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Altly detailed its plans to create an alternative to Facebook last week, complaining in a lengthy manifesto from Shapiro that an alternative to Facebook was sorely needed due to privacy and other issues with the social networking site. Shapiro was the former founder of Veoh Networks and head of MySpace Music. READ MORE>>.

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Clapit Raises AU$2.57M

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Clapit is the second, Australian startup to set up shop in Los Angeles in the last few days; another, social networking app maker from Australia, Bombd, just announced this week that it had set up in Venice Beach. Bedwell, Mary Jane Bulseco and Stan Tsvirko. READ MORE>>.

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Viddy Adds Celebrities To Investor Roster

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Venice-based Viddy , the developer of a mobile app used to share videos over social networks, has added a number of celebrities to its list of investors.

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