That volume is impressive, but it’s also expensive. Four-year-old SMS GupShup was forced to figure out a business model for mobile social networking before its global peers — like Twitter, and more recently, GroupMe — because it had to pay its ever-growing bills, CEO Beerud Sheth said in an interview on Tuesday.

Sheth said SMS GupShup has a run rate of $20 million, which is three to four times more than last year. The company expects to become profitable in the next year, even as it expands into other Asian countries, such as the Philippines and Indonesia.

Now the company has raised $10 million in Series E funding — to spend on network capacity and other product costs — from Tenaya Capital, Globespan Capital Partners, Helion Ventures and Charles River Ventures, bringing its total funding to $47 million.

SMS GupShup’s business model is targeted advertising. The Mumbai police, for example, have an account for sending out traffic alerts, which might be sponsored by Michelin tires or an insurance company. SMS GupShup has also played a role in organizing recent anti-corruption protests. The company’s 50 million registered members have created five million user communities.

Key to SMS GupShup’s success has been its reliance on the widely accessible and interoperable medium of text messaging, but the company will soon be launching its own mobile clients, too, Sheth said.

See our previous coverage: Indian Start-up Turns Text Into Dollars

In one week, Yahoo will report its third-quarter earnings, after the market closes.

And so far, its stock is showing signs that investors are hoping for better days ahead for the Internet giant.

Shares are up 8.5 percent for the month, almost 13 percent for the last three months and almost 39 percent since the beginning of the year.

While that’s not the rocket ship Google (GOOG) has been on–the search giant’s stock is up 70 percent since January, which includes a big boost recently on expectations of a strong earnings report tomorrow–it’s clear investors are hoping an improvement in the online advertising market will boost Yahoo’s fortunes.

Wall Street is expecting $1.12 billion in net revenue and seven cents in earnings per share from Yahoo (YHOO)–and a better performance than that could boost the stock.

In fact, a pair of bullish analyst reports that came out today predicted just that.

Broadpoint AmTech analyst Benjamin Schachter raised his price target to $21 a share, noting that after the search and online advertising partnership deal closes, Yahoo “should be meaningfully smaller and leaner, but should also be a significantly more profitable company.”

And Benchmark Co. analyst Clayton Moran moved Yahoo from hold to buy, with a price target of $20.

But a string of recent exec departures in Yahoo’s advertising units are making some within the company’s ranks slightly worried.

The departures include Jim Schinella, the company’s SVP for corporate partnerships, in September.

And yesterday, Glam Media announced that it had nabbed Josh Jacobs as SVP of Brand Advertising Products & Marketing. At Yahoo, Jacobs was a key exec in its display ad platform unit.

Many inside the company expect more departures in the ad and engineering arena at Yahoo, pointing out that many big stock packages given to hold onto talent are about to vest.

In addition, once Yahoo’s search and online advertising partnership with Microsoft (MSFT) is approved, as it is likely to be by the end of the year, hundreds of Yahoo engineers will get the choice of moving to Microsoft.

Some will, of course, but some simply do not want to go and many Silicon Valley companies and start-ups BoomTown spoke to report seeing more resumes recently from Yahoo staff.

There is little Microsoft can do to stop possible leakage of tech talent from Yahoo until the deal is approved, since the companies cannot do any integration until it is.

Perhaps worst of all, there seems to be nothing Yahoo can do to stifle its proclivity to yodel, which I begged Yahoo execs to forgo in its recent $100 million “It’s Y!ou” marketing push.

No such luck!

Yesterday, Yahoo launched its online Yodel Studio (no, I am not kidding), where you can record your own yodel in various music genres, like, um, rap.

Yahoo held a kickoff event in New York’s Time Square yesterday–however did I manage to miss it, since I was in Manhattan?–with a passel of celebrity yodelers like Jewel, as well as one in London’s Covent Garden.

Today, there is a yodel event in Mumbai, India. Bollywood yodeling anyone?

Here is a link to the famous Yahoo yodel, by the way, if you are so inclined.

And here is a video of the Times Square event, and also the very memorable Yahoo commercial of Taylor Ware, after she won the Yahoo National Yodel Challenge contest in 2003.

Some things never change (even if they should!).

Finke moved Deadline Hollywood Daily, her one-woman operation, from LA Weekly to Penske’s burgeoning Web empire in June. At the time, she promised to hire a “senior” journalist, based in New York City, within three months.

Now Penske tells me that the new hire, whom he describes as a “well-known figure from established media,” has been locked up, is finishing paperwork, and will be on board within two weeks. Finke also promises to have hires in “London, Paris, Mumbai, Hong Kong, and Sydney” within the next year.

Not that long ago, it would have been inconceivable to see a big-name media macher go to work for a one-woman blog owned by a white-label email services provider. But now that Web publishing has lost most (but not all) of its reputation as a backwater for second-raters, wannabes and has-beens, and now that traditional publishing is on life support, it’s a whole lot more believable.

So. Who’s making the leap and jumping into the digital pool with the rest of us? (It’s great fun! You’ll love it! Unless you hate it!) A few of us have been guessing at names for a bit, but there’s no reason to keep our parlor game to ourselves.

Feel free to speculate in comments below, though you’ll have to use your real name if you do. If you’re feeling shy, you can reach me directly at peter@allthingsd.com. And if you want to be completely anonymous, which is understandable but less useful to me (I won’t have any way of reaching you for follow-up) you can use the blind tip box here.

This is now clockwork: Some kind of calamity happens somewhere. Shortly after, an Internet debate breaks out about who did a better job of breaking and/or covering the story–citizen journalists/bloggers or boring old mainstream media.

The new variation on an old theme: Does Twitter constitutes a “news” source?

If you want to read about that at length, be my guest–there’s plenty over at Techmeme. But Dave Winer has summed it up pretty well in a couple of words:

What you see on Twitter, when: 

1. People witness events that others are interested in; and 

2. They’re posting about it on Twitter; and 

3. The interested people are reading their posts… 

It certainly is news. Whether it’s journalism or not isn’t a very interesting discussion, to me. 

To the user, both extremes, Twitter and the most vetted pro news, require skepticism. The reader triangulates”

The Indian police, meanwhile, seemed to take Twitter seriously, at least according to the Times “Lede” blog, which reported that cops asked that both reporters and Tweeters “do not discuss their movements, because they are concerned that the terrorists in the Taj and Oberoi Hotels are watching television to monitor the situation.”

What I haven’t seen on the blogosphere–or any news outlet–is a reasoned and thoughtful discussion of why India is seemingly beset with terror attacks. But I don’t expect to read or hear that a day after a news event, in any medium, because that’s not fast-twitch material.

Meanwhile, if you want to see what actual Twitter users are actually saying about the Mumbai attacks, head over here (even though Twitter spent some $15 million buying a search engine, it makes its search function inexplicably hard to find).

From what I can see, at this point Twitter is basically a good place to find quick links to other people’s coverage of the event, but maybe I’m missing something. (Click on image to enlarge)

[Image Credit: Stuti, which seems to have lifted the image from NDTV India]