San Francisco - The Web 2.0 investment boom may be peaking, according to a new report from Dow Jones VentureSource. [more..]

Los Angeles - An Italian government body responsible for privacy protection has ruled that an anti-piracy firm breached the country's privacy laws when it gathered the IP addresses of Italians suspected of illegal file-sharing, according to reports. [more..]

New York - Despite reporting sales of 4.4 million CDs in its North American stores last year, an annual increase of 22%, Starbucks only sells about 2 CDs per day at each of its stores, according to an estimate calculated by The New York Times. [more..]

Minneapolis - The 8th Circuit U.S. Court of Appeals has upheld a lower court's injunction that overturned a law banning the sale or rental of violent video games to minors in Minnesota, the Associated Press reported. [more..]

New York - Broadband provider Verizon will not be policing its own network for illegal file-sharing and reports that a recent test it conducted revealed that the new P4P protocol provides a significant boost in download performance while simultaneously reducing network congestion. [more..]

Arlington, Va. - Following two months of testing, PBS on Tuesday launched "PBS Kids Play," a subscription Internet service designed to help children ages 3-6 learn through interactive games. [more..]

Framingham, Mass. - LiveWire Mobile, a unit of NMS Communications that provides managed personalization services for mobile operators, announced on Tuesday that it has acquired Groove Mobile, a provider of mobile music delivery services, for $14.5 million. [more..]

Mountain View, Calif. - Meebo, the provider of a Web-based instant messaging service that allows cross-messaging between AIM, Yahoo and other services, is looking to raise $25-$30 million in new venture capital financing, VentureBeat reports. [more..]

New York - Ziff Davis Enterprise, a publisher of enterprise technology content, announced on Tuesday that it has raised $20 million in new financing from Bessemer Venture Partners. [more..]

New York - ROO Group, a provider of online video broadcasting and related services, announced on Tuesday that it will acquire Kamera, a Sweden-based provider of technology that lets partners deliver IPTV channels over mobile and online networks. [more..]

London - MobiVentures, a provider of mobile applications, announced on Tuesday that it will acquire Move2Mobile, a U.K.-based mobile and wireless business accelerator, for $4.2 million. [more..]

Mountain View, Calif. - VoloMedia, a developer of advertising, metrics and reporting tools for downloadable media, said on Tuesday that it has raised $3.5 million in venture capital from Leader Ventures. [more..]

Or is the Google CEO crazy like a fox? He certainly has been talking some crazy smack lately about Microsoft's proposed acquisition of Yahoo, blogs Paul Sweeting. [more..]

New York - LimeWire, the developers of peer-to-peer software that runs on the Gnutella network, have launched a DRM-free music store that offers both a la carte purchases and a range of subscription plans for its catalog of 500,000 songs. [more..]

Los Angeles - The Black Crowes have announced that they have partnered with independent music distributor Nugs.net to offer recordings of performances from their 2008 tour, as well as other previously unreleased live and archived materials. [more..]

Los Angeles - Former Universal/Interscope recording artists Giant Drag have placed a PayPal button on their MySpace page asking fans for donations to put toward the recording of a new album, in the wake of the band being dropped by their major label, Wired.com reports. [more..]

New York - Web entertainment site Heavy has announced the launch of an online, male-focused online video network. [more..]

Cleveland, Ohio - OverDrive, a distributor of digital books to online retailers, libraries and schools, announced on Tuesday that it has added DRM-free audiobook titles in the MP3 format to its offering. [more..]

Redwood City, Calif. - Electronic Arts said on Tuesday that it has extended its deal with Microsoft's in-game advertising unit Massive, and will continue to provide in-game ads on Xbox 360 and PC titles from EA for the next two years. [more..]

Redmond, Wash. - Nintendo of America said on Tuesday that its "Super Smash Bros. Brawl" for the Wii has become the fastest-selling game in the company's history, moving more than 1.4 million units in the U.S. since its launch on March 9. [more..]

Irvine, Calif. - Independent video game developer Foundation 9 Entertainment announced on Tuesday that it has named James North-Hearn as its new CEO. [more..]

Dallas - Video rental giant Blockbuster on Tuesday announced the launch of a free online promotional game inspired by the Stephen King film, "Mist," from The Weinstein Company. [more..]