The Wall Street Journal reports today that the floodgates held back by VC stinginess, myopia and ignorance have been loosed following excitement over – yep – mobile social … or social mobile + local … or social local mobile if you like.
At least in the Valley, where these things tend to happen, pushing and shoving is going on to get a piece of several startups in the space (if SoLoMo can be considered one space, and we think it can).
“We would have people show up at our offices every other day wanting to meet while we were trying to get work done,” said Instagram co-founder Kevin Systrom. Since launching in October, the service has nearly three million users, he said.
In addition, Yobongo Inc., a three-week-old iPhone app that lets users chat with people located in their geographic area, said Wednesday it raised $1.35 million. In January a group-texting service called GroupMe said it raised $10.6 million.
For the whole story check it here. And see their nifty chart below:
This post originally appeared on Locl.ly.