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Plaxo up for grabs after falling behind Linkedin

Social Networking (opens in new tab) for Professionals and Google Partner Plaxo has put a "for sale" sign in front of the business with a tag price of USD 100 million according to The New York Times (opens in new tab).

Venture capital firms like Sequoia Capital, Globespan Capital Partners, Harbinger Venture Management and Cisco Systems have invested more than USD 28 million in the company which has yet to turn a profit after seven years after it was founded.

The site reported that it has 20 million users worldwide although it is not clear how many of them are regular users. John McCrea, VP marketing (opens in new tab) at Plaxo also told Michael Arrington of Techcrunch, that Plaxo managed to grab 15 million address book accounts from partnerships.

Unlike Linkedin or other traditional social networking sites like Facebook, Plaxo lays more emphasis on products, partners and services which left it vulnerable to newcomers as it fails to catch up with the viral nature of Social Networks.

Late last year, Plaxo joined Google's OpenSocial group and launched Plaxo Pulse which aimed at sharing content from different platform and service providers as diverse as Myspace, Twitter and Amazon.

Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.