After much speculation (including a blog post I wrote yesterday), Yahoo finally acquired MyblogLog for $12– $10-million, according to Om Malik. Obviously, Yahoo put MyBlogLog in play last month when the rumors of its interest started to percolate. Of course, it didn’t hurt MyBlogLog’s M&A prospects that its social networking/community tool started to gain a lot of momentum in recent weeks judging by the number of widgets that started to pop up on peoples’ blogs. To be clear, MyBlogLog has some interesting features but it’s not much of a business given its only source of revenue is a statistics package that costs $3 a month or $25 a year, which competes against free services such as Google Analytics, Performancing and Sitemeter.
Yahoo is proving be an even better dream-maker for Web 2.0 start-ups than Google given the number of small acquisitions (Flicker,, Bix, Jumpcut). The question is what is Yahoo going to do with all these different pieces other than try to drive these users to other Yahoo services? And whatever happened to the Peanut Butter Manifesto?
Update: Om Malik has more details here. For some insight into MyBlogLog’s revenue potential and traffic, Fred Wilson had some thoughts last month. Mathew Ingram wonders out loud what Yahoo intends to do with MyBlogLog, which he highlights raised zero venture capital.

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