Facebook's likely move to an ad-targeting system based on its users' demographic profiles reflects in part the waning appeal of untargeted banner ads, according to this article. "Targeting will come in to rescue all forms of digital advertising," said Kevin Lee, co-founder of Didit.
MySpace, the world's largest social network, announced it would join the Google-led OpenSocial alliance to create common application standards for third-party developers. MySpace CEO Chris DeWolfe said, "OpenSocial is going to be become the de facto standard for developers right out of the gate." Bebo, a Britain-based social network with 39 million users, also has joined up with the alliance.
Yahoo! EVP and general counsel Michael Callahan expressed regret over the Web portal's failure to give Congress additional information on Shi Tao, a Chinese journalist imprisoned in 2004. Callahan and Yahoo! CEO Jerry Yang are scheduled to testify before Congress next week.