Posted January 9, 2007 8:28 am by with 13 comments

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It appears Marketing Pilgrim and Yahoo are on the same page…we both think MyBlogLog is a pretty cool company!

The social network for bloggers and blog readers has seen great growth in the past few months with lots of blogs installing their tracking code and building their MyBlogLog community. Once again proving it’s in touch with social media, Yahoo has snapped up the company for a reported $10-12 million.

Judging by the official MyBlogLog blog, the guys appear to be excited about the acquisition and explain what backing from Yahoo will mean to them.

Yahoo! is going to put loads of resources into MyBlogLog and help us roll out a ton of new features.  Plus, we’re moving to their infrastructure, which should help with those occasional slowdowns.

And Mashable explains Yahoo’s strategy for keeping MyBlogLog a separate entity while still mashing it up with other Yahoo web properties.

Bradley Horowitz, VP of product strategy at Yahoo, said that MyBlogLog would remain a separate entity (much like their other social acquisitions) , but youรขโ‚ฌโ„ขll be able to register with your Yahoo ID. The MyBlogLog communities will also be integrated with Flickr and Yahoo Answers

Om Malik has more background details on MyBlogLog and suggests that even at $10 million, it’s a handsome reward for their efforts.

Whatever the amount might be, it is clear that five-employee company (including Rafer) have done well, primarily because the company was completely boot strapped and raised zero dollars in angel or venture capital investment.

Curiously missing from the news is the thanks to MP for bringing MyBlogLog into the limelight with our free zune contest. ๐Ÿ˜‰

More from Jeremy Zawodny, Forbes and R/WW.