Yahoo "transitions" its Social Network, Yahoo! 360

Yahoo has silently pulled the plug on its Myspace-killer/Blogging platform, Yahoo 360.

The decision was announced two weeks ago on The Yahoo 360! product blog by the Community Manager, Matt Warburton. It came a few days before Microsoft grabbed a 5 per cent chunk of Facebook.

Officially, the company will transition Yahoo ! 360 into a "more integrated Yahoo ! experience" in early 2008 with a new "universal Yahoo! profile".

In other words, Yahoo will probably come forth with an even bigger walled garden, a bit like Microsoft's Passport Identification system.

The site was launched back in March 2005, a few months before Myspace was acquired and when Facebook was still only 1 year old.

According to the post, all the content on the Yahoo 360! will be saved and the resources dedicated to Yahoo ! 360 will be reallocated to Mash, which is an experimental profile service which is likely to take Facebook heads on next year.

Techcrunch highlighted the fact that Yahoo ! 360 has seen a massive decline in US traffic as unique visitors decided to leave them for Facebook and other social networks.

But all is not gloom and doom at Yahoo Land, they did give a much needed User Interface Revamp to their My Yahoo site (although it is currently in Beta and invite-only).

Yahoo! 360 though was popular abroad it seems as it captured 5% of Yahoo's global audience.