Yahoo! is currently pushing to close its acquisition of a social networking site for mothers called CafeMom, according to reports.
The company is already profitable and turns in annual revenues as high as US$30m.
The acquisition could give Yahoo! the kind of nous it wants to navigate the expanding world of social media and compete with Facebook for social advertising bucks.
Social network advertising is getting renewed attention in 2010. The US’s gradual economic recovery, combined with marketers’ incessant focus on reaching consumers via social media, has led companies to make big increases in social network ad spending in the first half of 2010.
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