Toronto based Xtreme Labs, the development arm of Extreme Venture Partners, has a hit on their hands. Their iPhone App ‘Speedtest’ has been deemed a top ten app in the free utilities category by Apple. Speedtest is offered as free ad supported app and also as a paid app with no ads. Speedtest is now also available for Blackberries and Androids.

Word is that the devs at Xtreme Labs have a little competition going with some of ExtremeVP’s portfolio companies to see who can get the widest distribution fastest. Sounds like fun!

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