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TeleNav, which offers branded and white-label navigation apps for a wide variety of mobile phones and carriers, just announced the launch of its own mobile advertising platform. While most mobile ad platforms now offer some form of location-aware advertising, TeleNav has a number of unique advantages, including the fact that its users are obviously willing to drive to a real store, and that it can provide turn-by-turn directions to stores without taking users to a different interface.

Earlier this year, Google added clickable phone numbers to its mobile ad offerings, making it easier for smartphone owners to connect with businesses when performing local searches. Today, the company has extended this feature by adding inline maps to business listings on mobile websites and apps in the Google Display Network.

So now, when you're looking for the nearest pizza place and you don't feel like waiting for delivery, you're just one click away from getting directions from your current location in Google Maps.

Back in May, we mentioned that Boulder startup Trada - a crowdsourced solution for creating keyword-based pay-per-click (PPC) ad campaigns - had introduced support for Microsoft's Bing search engine. Today, Trada is getting a huge leg-up from Bing's competition as Google Ventures has invested over $4 million, leading the company's latest round of funding. Joining Google in the Series C round is Foundry Group, whose $1.5M investment mark's the Bouler firms third investment with Trada.

Earlier this week following the announcement of the iPhone 4, Apple revised the terms of service (TOS) for advertising within applications due to the impending release of its iAd mobile ad service. Apple's new TOS only allows ad networks whose sole business is delivering mobile ads to collect data from those ads, effectively cutting out larger competitors like Google's AdMob. Today, AdMob's founder Omar Hamoui responded to Apple's revisions, which he believes will stifle innovation in the space.

In-stream Twitter ads are here to say, or so says Jan Schulz-Hofen, CEO of Magpie, a Twitter ad network that was among many seemingly under fire from Twitter, Inc. last week after the company announced changes to its terms of service. In this newly updated agreement between Twitter and its developers, it appeared that the popular microblogging company was banning the insertion of ads into users' Twitter streams. Because of the vague language used, there was a lot of initial confusion about what types of third-party services would be affected by these changes. At first glance, it appeared Twitter was banning ad networks like Magpie, Ad.ly and 140 Proof, among others, from automating the insertion of ads into a user's timeline.

As it turns out, that may not be the case after all. (For now, that is).