Bit.ly Receives $10 Million In Funding

There should be an image here!In the realm of “wow, never saw that coming” we have news of bit.ly receiving $10 million in funding for their venture. Well spent, if you are looking at the usage of the url shortener and tracking options for some mysterious specialized use. However it will be interesting to see just how easily they can recoup the full investment anytime this decade considering how cheap most people are these days.

Personally, I am fairly certain that unless a major partner comes forward to start using bit.ly for something extremely focused, all will be for not. After all, it’s a tracking url shortener for goodness sake, not something that is so compelling that $10 million makes a lick of sense for any perceived value here? I just don’t get it.

My gripes aside, I have found bit.ly to be a great url shortener, it’s reliable, easy to use and has never let me down yet. But at the end of the day, it needs more services added to warrant the funds invested in my mind. Maybe I am just being too skeptical here, but for the life of me I don’t see how these web 2.0 type companies attract the investment. It’s the 1990’s all over again.