MingleNow, an event promotions site for 20 somethings, is officially closing its doors on Jan. 7th. The company says you can still post new events until December 17th, but after that the site will no longer accept new postings for events. The social network, which was founded by BlueLithium, must not be holding much promise for Yahoo, which acquired the BlueLithium ad network earlier this year.
Perhaps Yahoo has enough social networks on its plate? Even with a renewed focus on its local portal, there doesn't seem to be any room left for MingleNow. Yahoo already got rid of Mixd, and MingleNow is the latest to see the exit door. Yahoo isn't really all that great with social networks to begin with, and in the same manner that the other larger companies are weeding out the necessary and unnecessary ventures that they've been holding onto, a massive swap out has been going on for a few months now.
Judgment day has come for several aspects of Yahoo and AOL especially, with Yahoo divesting in Kelkoo and planning on shutting down several more European companies in the coming year, and AOL having gotten rid of some 2,000 employees. With a major focus being on the improvement of ad networks and th battle against Google heating up in the face of DoubleClick acquisition problems, the loss of MingleNow seems to make business sense for Yahoo.