Demand Media has acquired real-time event coverage provider CoverItLive, which is used by brands like Yahoo,  ESPN, Ford, Time, News Corp, EA, FOX News, and BBC. Demand Media is positioning the acquisition as a way for the company to expand its social reach. 

Twitter is everywhere you look these days. You don’t have to use it, but you can’t hide from it. If you live under a rock, chances are somebody’s sitting on top of that rock tweeting. It took a little bit for Twitter to catch on, but I think it’s safe to say that it has officially taken the world by storm. Let’s look at just a few ways it has impacted different forms of media and communication.

1. Instant Messaging

eBay announced its second quarter results yesterday, and claims to have had a strong second quarter, slightly higher than expectations. Here are some of the numbers:

- Second quarter revenue was $2.10 Billion (a $97.7 million decrease year-over-year)

- Net income on a GAAP basis was $327.3 million ($0.25 per diluted share)

- Non-GAAP net income was $478.6 million ($0.37 per diluted share)

- eBay generated $730.7 million of operating cash flow during Q2 and free cash flow during the quarter was $602.3 million