A few weeks back stories were all over various blogs indicating MyBlogLog, a social network for blogs and bloggers, had been sold to Yahoo! for 10 million dollars. That story was retracted when, well, it turned out it hadn't been sold. But today it has finally been announced that MyBlogLog has officially been sold to Yahoo!
The announcement was far from smooth after it was announced, retracted, and then officially announced again. Although the stories were up late last night I help off posting until now so I knew it was for real.
Giga OM had the news up last night announcing the acquisition which is big, big news. Here is part of what the MyBlogLog crew is saying:
Yahoo! is going to put loads of resources into MyBlogLog and help us roll
out a ton of new features. Plus, we're moving to their infrastructure,
which should help with those occasional slowdowns.
The company will also be relocating from Orlando to San Fracisco as part of the deal. The terms of the deal are unknown although prior estimates put it somewhere upwards of $10 million. I have just recently gotten into MyBlogLog (other things took precedent) but it seems to have a bright future ahead of it so look for it to grow as more and more bloggers become involved especially after this big news.