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Yahoo, Others Eyeing Bit.ly

GigaOM: "Yahoo and some of the other web giants have been kicking the tires on New York-based URL shortening service Bit.ly, according to a few people in the know. The interest in the company has increased over the past 60 days or so. Conversations are said it to be in early stages, and the company raised about $3.5 million ($2 million in venture capital and $1.5 million in debt) in March 2009 from Ron Conway and other super angel investors. Bit.ly declined to comment for the story."

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