Surging on an iPhone commercial, Loopt looking to sell or raise money?

Surging on an iPhone commercial, Loopt looking to sell or raise money?

It looks as if Loopt may be looking for an out — or more likely, an insane new round of funding. The location-based social network for mobile devices has supposedly hired the investment band Allen & Co. to find a potential sale or investment partner, TechCrunch is reporting.

But what’s crazy is the apparent valuation Allen & Co. is putting Loopt at: Over $500 million. Now, I like Loopt as much as the next guy, and… Continue Reading