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News summary 20/06
Online business community LinkedIn was valued at $1 billion (£512 million) this week when investors led by the Bain Capital private equity group raised $53 million in cash.In related news, Fortune reported that YouTube is testing out longer video formats on the site, which may have Internet Advertising implications.
Elsewhere, Microsoft revealed at the recent Cannes Lions International Advertising Festival that its Live Search cashback scheme could soon be rolled out in the UK, reported Live News.
The system offers cashback to customers purchasing items they found by using Live Search.
Meanwhile, Apple announced that users have purchased more than five billion songs on iTunes.
The firm also revealed that more than 50,000 films per day are downloaded from the digital media store.
Also in the news, comScore's web rankings for May placed Google at the top, with the search giant reaching 143.4 million people over the month, while Yahoo! came second with 143 million consumers targeted.
Online Advertising news posted on 20 June 2008
