Leader of Social Media Network – MySpace

MySpace remains king of the social networking category, according to Hitwise, taking in 79.7% of visits to sites in this category ofr the Month of April, 2007.

Facebook is second, with 11.47% of visits, and Bebo comes in third with 1.28% of visits. MySpace’s traffic has increased 70%. Facebook’s increase in traffic is largely due to their opening up of its site for anyone, instead of its previous limitations to those with college and high school email addresses, allowing its traffic to grow 106%. And to illustrate how influential MySpace is for the entire social networking ecosystem, nearly 25% of clicks to the 19 other top social networking sites came directly from. This also highlights the fact that many people have more than one social networking persona.

While Facebook has received a good amount of backlash for several of the changes it’s made to the site in the past year, opening it up to all Internet users and adding news feed updates (we’ll see how the community reacts to Facebook’s upcoming announcement for its development platform), all the changes have paid off handsomely, increasing the valuation of the company. Great for an IPO, right?

Courtesy: Mashable.com

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Yahoo’s bid to buy Facebook

According to the Wall Street Journal, Yahoo has offered Facebook an amount that could be approximately $1 billion in a bid to purchase it. Facebook is second largest social networking website in the US. Yahoo has been talking to Facebook over the past year.  Facebook also had discussions with Microsoft and Viacom. Earlier as well there were rumors of its acquisition wherein Facebook reportedly turned down an offer of $750 million, deciding to hold out for $2 billion.

Currently Yahoo has social media websites (Flickr, del.icio.us & Yahoo Answers) however they do not have anything like Myspace; the largest social media website or Facebook. Lets wait and watch that weather we’ll see Facebook as a Yahoo company or not.

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