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Good move - Buy Friendfeed (to eliminate them), over time integrate it to work as part of facebook instead of a side service and take on Twitter (or should I say take out).
I wonder how long before Twitter tries to buy a social networking company to stave off being gobbled up. I bet classmates would be willing to be bought by Twitter, Facebook already offers a great "friend finder" for free so classmates isn't going anywhere via their paid approach...
I'm getting ahead of myself, none of these companies monetize very well, yet.
Classmates isn't gaining ground, they're new subscriber numbers for the past quarter are down over 65% from the same period last year and an IPO looks even less likely now that UNTD lowered its projected outlook below what was expected. Facebook offers a free classmate finder so it doesn't make sense to pay classmates for that service really.
Also, UNTD leadership bailed out when photobucket was purchased instead of myphotosite, hopes of a buyout didn't materialize (if they existed) and myphotosite was shutdown right after that.
All that ads up to "bail out now or hold on till we hit rock bottom and hope to rebuild". For now the stockholders are happy with dividend earnings, when the cash runs out to continue paying those I expect to see classmates move.
Twitter might actually be able to infuse life into classmates and the timing won't get better than now.