RapGenius, the New York annotation startup best known for its crazy – and often insensitive) founders, today raised $40 million and announced a new name: Genius.com. The round was led by Quicken Loans founder and Cleveland Cavaliers owner (the guy’s having a big day, having just re-signed LeBron James) Dan Gilbert and included participation form existing investor Andreessen Horowitz. The biggest news, however, is that the company launched a new embeddable annotations product that allows any website to make text hoverable for added insight. It could have big effects on the company’s reach, while also helping it limit its dependency on search traffic and move further beyond the still niche music lyrics vertical. [Source: BI]