Bitly sells a majority stake to Spectrum Equity for $63M

Bitly is announcing that it has raised $63 million in additional funding from Spectrum Equity – a deal that gives the growth equity firm a majority stake in Bitly. Founded in 2008, the company was initially known for providing a handy link shortening tool for anyone with a Twitter account, but it’s now focused on using link shortening as a way to provide more control and data to businesses.