FeedBurner is a feed management service launched in February 2004 by co-founders Dick Costolo, Eric Lunt, Steve Olechowski and Matt Strobe. It is headquartered in Chicago and was acquired by Google in June 2007 for $100 million. Previously, they received funding from Mobius Venture Capital, Portage Venture Partners, Sutter Hill Ventures, Draper Fisher Jurvetson and Union Square Ventures. FeedBurner has proven to be a successful and innovative service that allows blog owners and podcasters to share and track their feeds with powerful tools. TotalStats, a tool that allows you to see the number of people who have viewed or clicked items in your feed, is a great tool for tracking readers who read your feeds instead of actually coming to your site.
MyBrand, another great tool, allows you to track your feeds without using the feedburner.com domain. This means that your feed can live yoursite.com/feeds/ and FeedBurner will still track it.
Since Google acquired FeedBurner all of their premium account tools, like the above TotalStats and MyBrand, are now offered free. Revenues will now come from their ads in feeds, which Google will further promote. The acquisition should also help them build market share against main competitors Technorati, Feedster and Bloglines.

Above: FeedBurner Screenshot -- #1

Above: FeedBurner Screenshot -- #2