Blogs are very popular nowadays because it allows owners to write articles, thoughts or some simple messages that can be read by anybody and commented by the entire community. As you may know, the most popular blog community on the internet is owned by Google that recently released the final version of the Blogger. It provides you multiple features that are meant to increase the functionality of the blog, such as the possibility to redirect your blog to your domain.

The rivalry between Google and Yahoo is known in the entire world. Because Google already owns the most popular blog service in the entire internet world, Yahoo decided that it's the perfect time to buy a service that will create a social network.

Mybloglog.com is a service similar to Blogger, allowing users to host their own blogs and post a message, article or all kinds of messages offering to readers the possibility of making comments and rating the article. Forbes was the first company that announced the acquisition, saying that it seems like the transaction was made for approximately $10 million.

"The Internet portal has purchased Mybloglog.com, an Orlando, Fla.-based website that enables readers of web pages to leave information about themselves, building a social network among fans of such things as News Corp's MySpace pages, commercial web publications, or personal weblogs, or blogs. Mybloglog also looks at reader behavior inside blogs, like what is being read and where readers go next, delivering information it can sell to web advertisers," Forbes said.

The company's chairman Scott Rafer said that Mybloglog.com currently owns 45.000 blogs with more than 33.000 registered users and 3 million readers every day. It's obvious that Yahoo's acquisition was quite smart, but the giant portal must organize and manage the company so that Mybloglog.com can challenge Blogger.