Loop’d Gets Cash, Still Confused with Loopt

Loop’d Network issued a press release this morning saying it had raised an additional $800,000 in financing from Tech Coast Angels.

I found myself scratching my head as I got further down into the release. Nothing seemed to make sense. It took me about three minutes to figure out that the release had come from Loop’d, the social network for action sports athletes, and not Loopt, the location-based social networking application for mobile phones.

What’s worse is that I’ve written about both before.

I’d written about the fact that Loopt sued Loop’d last year over the confusing name. The case settled out of court in December.

Loop’d Network, is operated by SponsorHouse, which has raised more than $3.2 million from investors, records show.

The San Diego-based company says it became profitable in December.

In other news, mobile application company Loopt, which has raised more than $20 million from New Enterprise Associates and Sequoia Capital, got a mention in the Season Finale of Gossip Girl.