Yahoo... Did you leave it late to join the social networking party?

Know More: Media

It would seem that Yahoo has finally jumped into the social networking arena with the purchase of MyBlogLog for a reputed price of $10 million. This according to Forbes.com and Gigaom.com. Rumors started circulating about a possible purchase of the site by Yahoo last November, around the time of the purchase of Bix.com. Back then all kinds of numbers were being thrown around, but it seems that the price ended up about the $10 million mark. But, no official figures have been released at the time of this post. MyBlogLog enables readers of web pages to leave information about themselves, building a social network among fans of such sites as MySpace, commercial web publications, or personal weblogs. “This closes the loop between readers and publishers,” said Bradley Horowitz, vice president of product strategy at Yahoo. “Every publisher wants to know his readers, and the readers want to find out about each other. It’s the power of implicit networking.” According to Scott Rafer, Chairman of Mybloglog, who claims that the service is currently available on about 45,000 blogs and looks at around 1 million blog readers a day. Well, we’ll see if the investment works out for Yahoo. That space is starting to get a little crowded, and they’re late to the party!

Hey Yahoo... You're a bit late, but you did pay the $10 million door fee... So, C'mon in!

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