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I've never understood why others have said that Technorati is losing it: yes, the search is full of spam, but the site is clearly doing a bunch of referred traffic from Google, and the blog search is still my number one choice.
Founder David Sifry has just put out the latest stats for the company in the State of Technorati report, and things look good to me: uniques and pageviews growing, and Technorati still ahead of Google Blog Search, which some claim is better. Did I miss something?