Social Networking Continues to Grow

Yahoo! has purchased MyBlogLog, a site that makes social networking even more so. The site:

“…enables readers to leave information about themselves, building social networks on blogs and on social networking sites. From a business perspective, Mybloglog also looks at reader behavior inside blogs, like what is being read and where readers go next, delivering information it can sell to web advertisers.”

Forbes spoke with Bradley Horowitz, vice president of product strategy at Yahoo says:

“This closes the loop between readers and publishers,” he said. “Every publisher wants to know his readers, and the readers want to find out about each other. It’s the power of implicit networking.”

He continues:

“People search Google and Wikipedia for information; with blogs, people look for cool things and serendipity.” And, by watching what readers look at, and learning overall behaviors, companies like his can sell to advertisers information about what products should be advertised where.”

Om Malik was having dinner with MyBlogLog chairman Scott Rafer, when the announcement came through via Blackberry. Om comments on the windfall:

“…it is clear that five-employee company (including Rafer) have done well, primarily because the company was completely boot strapped and raised zero dollars in angel or venture capital investment.”

Read/Write Web offers another reason why MyBlogLog is so compelling:

“It’s amazing how much of a difference putting a face (or icon or avatar) to a reader is. It actually makes it a real community, because you begin to recognize and know people.”

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