Bitly, a New York company that lets users shorten, share, and track URLs, is raising around $20 million in a new round of funding, we have learned from multiple sources. That's twice the amount the company raised in its last round, and shows a mature startup closing in on a working business model. We also hear Bitly is about to launch some new consumer products, including a real-time, viral search engine.
Given that their entire business model depends on the continued use of the .ly suffix, and which belongs to an area which is hardly to be considered stable, anyone investing in them is taking an enormous risk of them suddenly having no product..
It only requires a hard line religious government to surface in Libya, and for them to refuse to honour current "arrangements" for various "shortening services that depend on the .ly to go TTU..
During the civil war the future of these services was widely held to be in doubt..and the factions within the "winning side(s)" are not getting along at all well at the moment..