Together, they launched Fame Express, a startup that produced game applications for Facebook.

CNN: Give more visas to foreign-born workers

Written by Craig Malloy, CEO of Bloomfire, an Austin startup that offers knowledge sharing applications for teams and organizations.

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In three years the crew has combed through 800 applications looking for promising companies that don't need millions in startup capital and that stand a chance of making measurable progress in just three months.

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Consider, for example, an American startup-up company that has developed sophisticated new data-mining technologies for social networking applications.

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Investors on Wednesday also reacted to news that Google is setting up a distribution network for social networking applications, adding a new twist in the Internet search leader's brewing rivalry with rapidly maturing startup Facebook.

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