Excerpted from article by Search Engine Land:
"Bit.ly announced a new set of APIs named Social Data APIs.
The new APIs allow you to search for top stories in real time over the Bit.ly URL network. You can quickly see the top URLs and stories for any specific query right now, in real time.
The three types of functions include:
1) True Realtime Search: Search for top stories and URLs in real time by query and geographic area.
2) Attention Spikes: This doesn’t require you to search by keyword, instead the “bursts API” returns the current phrases that are receiving a burst in attention beyond what we would expect.
3) Metadata about URLs: Bit.ly will provide the metadata on URLs based off of keywords, topics, content, language, and location relevance..."
Read more on Bitly Blog here: http://blog.bitly.com/post/40026085295/announcing-the-bitly-social-data-apis