By: E&P Staff
Yahoo has snapped up the Orlando, Fla.,-based MyBlogLog.com, a social networking site for blogs, according to a Monday report in Forbes magazine.. Yahoo has not announced what it paid for the Web startup, but the magazine reports that it was in the neighborhood of $10 million.
The site enables readers of blogs to leave personal information about themselves, creating an online network of people with similar interests. It also creates online profiles about what users read and where they navigate to for advertisers.
“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.”