Yahoo Shutting Down Social Media Site

Posted by Miranda Miller Jun 3, 2009

Yahoo Inc. is shutting down their Yahoo 360 social networking site in July. As of July 12, users will no longer be able to access their accounts of information.

Yahoo considered losing the social media two years ago, finally deciding to go ahead with the shutdown after a lag in advertising spending and an increase in competition.

360 simply hasn't kept up with more popular social networking sites Facebook.com, MySpace.com and Twitter.com. This latest closure follows on the heels of Yahoo's shutdowns of FareChase and Briefcase.

For the full story, visit Brian Womack's Yahoo to close social networking site in July in Monday's Financial Post.