Venture capitalists rush to back social mobile apps:

03/24/2011 | Wall Street Journal, The

Mobile social media applications are on the cusp of becoming big business -- at least, that's the hope of the venture capitalists lining up to invest in social startups. Color bagged $41 million from investors; group-messaging service GroupMe raised $10.6 million this year; and photo-sharing service Instagram talked with dozens of prospective investors before accepting a $7 million capital injection.

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Wall Street Journal, The

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