Booting Up: New York-Based Timehop Raised a $3 Million Round to Keep Haunting You Forever

Chromecast. (Photo: Google)

Chromecast. (Photo: Google)

After taking a $900 million write down on Surface RT, Microsoft CEO Steve Ballmer admitted they probably made too many of the tablets. In a town hall meeting, he reportedly expressed his disappointment in its sales. [Verge]

Facebook’s strong quarterly earnings were all a mirage because the social networking site is worth $24 billion less than when it first went public. [TechCrunch]

What does Google do when a promotion is doing too much promoting? End it! The company said “due to overwhelming demand” it has stopped offering a three month free trial of Netflix with every Chromecast sold. [Los Angeles Times]

For Q2 earnings, Amazon registered a $7 million loss but increased its revenue 22 percent since last year to $15.7 billion. [Forbes]

New York-based app Timehop raised a $3 million round led by Spark Capital. [TechCrunch]