social networking

Yahoo executives have publicly acknowledged that the company's Yahoo 360 social networking site has failed to achieve expected levels of popularity. Last year, it was rumored that Yahoo tried unsuccessfully to buy social networking site Facebook for US$1 billion, the same figure Yahoo is reportedly willing to pay for Bebo, the U.K. newspaper reportedIn the U.S., News Corp.'s MySpace attracted almost 80 percent of all visits to social networking sites in April, followed in a very distant second place by Facebook with 11.5 percent, according to Hitwise Pty. Ltd. Bebo came in third place with 1.3 percent of visits. Yahoo 360 took seventh place with 0.71 percent.Bebo has a particularly strong following in the U.K., where in mid-April it ranked as the eighth most popular Web site with 1.27 percent of all visits, one spot below MySpace, which ranked seventh with 1.34 percent, according to Hitwise.

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