VentureDeal has released its report on investment trends for the third quarter of 2010. During the third quarter, the report finds total funding for Internet companies down by 14% and the number of companies funded down by 6%. The mobile sector, however, saw a 40% increase over previous quarters, although the number of companies funded declinedVenture capital database
The report says that 343 Internet companies raised $1.8 billion in the third quarter. Grouped together in the Internet category are digital media, e-commerce, and software companies, and these sectors all saw a decline in funding amounts and in the number of companies funded, save the software sector. It saw a 19% increase in investment dollars.
Textbook-rental service Chegg had the largest round of the quarter among Internet companies, with a $75 million round from Hong Kong based Ace Ltd. C$ cMoney had the largest deal in the mobile sector. Its $100 million accounted for 46% of the entire sector's funding during the quarter. The company has developed what it calls "a new and innovative way to send money and pay for goods and services using a cell phone and the text messaging system."