The top 10 social-media stories that shaped 2012

With outlandish lawsuits, a botched IPO, and a detailed social record of historic world events, 2012 will be remembered as a year of extreme highs and lows in social media. Here are the top 10 social stories that defined the year.

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Lights, camera, Klip: Social video startup raises $8M

As people’s pockets fill with camera-enabled smartphones the rush is on to be the top dog in social video sharing. Palo Alto video startup Klip announced today that it has raised $8 million in a second round of funding,  just two months after launching and raising $2 million.

Justin.tv’s social video bet pays off with 150K downloads

Justin.tv, one of the best-known startups offering live-streaming video services, launched a mobile video application called Socialcam two weeks ago that moved the company in a new direction. The app seems to be attracting users — it has been downloaded more than 150,000 times.