10 Things You Need To Know This Morning

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Good morning! Here’s the news you need:

  • Facebook’s valuation on the private markets has hit $41 billion making it the third most valuable web company in the U.S. after Google and Amazon.
  • Facebook is reportedly going to be debuting its email product today. Join us for live coverage of the event starting at 1 pm eastern, here.
  • Another photo sharing application startup has launched. Path is designed to allow you to share photos with your 50 closest friends. It’s founded by early Facebook employee Dave Morin, and Shawn Fanning. It is getting trashed by the press.
  • Apple’s iAds, which are about to hit Europe, get ripped by anonymous ad execs in the FT.
  • Well duh: Nobody wants to buy GPS devices now that they have smartphones with GPS, and cars with GPS built in.
  • Google is reportedly set to reveal a new shopping site called Boutiques.com.
  • AOL announced updates to AOL Mail yesterday.
  • Yahoo is setting up “contributor networks” to get tons and tons of cheap content.
  • Now that eReaders are less than $150, expect them to be hot sellers for the holiday season.
  • Pulse, a slick looking RSS app for the iPad raised $800,000 in funding.
  • BONUS: If you missed it this weekend, check out our iPad survey results to learn everything you need to know about how people use the iPad.

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