Bitly has been around on the web for a while, being known as one of the most popular and widely-used link-shortening services online. While that is what we know Bitly for, the company is much more than that. It has now revealed plans of venturing to create a real-time viral search engine which will tell the user what is the most buzzing news related to a particular topic at a given time.

Back in the days when Twitter launched its own link-shortening service, many had speculated that perhaps this would mean the end of Bitly. However, Bitly survived that and continued, not only to exist, but thrive.

One of the main reasons is that Bitly is also very popular for its enterprise dashboard through which, companies are able to track their links all across the web. This is a very significant and useful feature for the companies and that is why, it is increasingly popular among them.

With the help of this dashboard, companies are able to see which content gains popularity on the web and how users react to such content, thereby enabling the companies to improve their content. In a way, it is a portal of web analytics.

Now, Bitly has been able to raise funds to the tune of $20 million, which goes on to show that investors have placed a huge confidence in the company. According to an investor, “The link shortening has always been a bit of a Trojan Horse. Bitly is really an analytics tool for tracking content across the open, distributed web, and doing it at a massive, real-time scale. They survived the Twitter storm and emerged with a service that isn’t reliant on any one social network.”

What does Bitly intend to do with all this money? One possible outlet for the money could be an ambitious project that Bitly plans to undertake. And that is the creation of a search engine which will be able to display real-time viral results to the users. This can be a great product in that it will enable users discern what is popular across the social media and stay in touch with it.

Source: The Verge

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