QOTD: You Think It's Cheap to Feed Fail Whales?

“Statement 1: Social media businesses are capital efficient and don’t need much money. Statement 2: Twitter has now raised over $300 million.”

RRE Ventures’ Eric Wiesen, mulling over Twitter’s latest mega-funding round, via… Twitter.

Bit.ly URL Shortener Raises $10 Million

Bit.ly, the start-up you’ve probably used recently to send someone a shorter version of a Web address, has raised another round of funding. The service, spun out of the Betaworks incubator, says that the RRE VC fund led the round, and that partner Eric Wiesen will join the company’s board.