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Yahoo! Taiwan buys Wretch

Yahoo! Taiwan, which has long been rumored to have an interest in the Taiwan blogger community site Wretch, finally announced the acquisition today. According to Yahoo! Taiwan, the deal is expected to be completed in the first quarter of 2007 but details regarding the amount nor terms involved have not been revealed yet.

Yahoo! Taiwan said this acquisition is aimed at strengthening its offering for interactive content sharing, especially driven by the rising role of Web 2.0.

Industry players estimate the price paid may be in the range of NT$710-715 million, though sources commented that Yahoo! Taiwan doubts whether Wretch is worth NT$700 million. Industry sources noted that Wretch earned a profit of NT$12.8 million in 2005 (EPS of NT$6.4) on a capital size of NT$20 million. Market watchers anticipate that Wretch’s EPS in 2006 will double to NT$12-13.

Blogomania grips Asia

A survey of 25,000 MSN portal visitors across seven Asian markets - Hong Kong, India, Korea, Malaysia, Singapore, Taiwan, and Thailand - found that almost half of those online in Asia have a blog, and 40 percent of these bloggers are blogging for more than three hours a week.

Perhaps not surprisingly blogging is primarily a pastime of the young: only nine percent of those surveyed were over 34 and 56 percent were under 25. However, perhaps surprisingly, blogging is not predominantly a male pastime: overall 55 percent of respondent bloggers were female, but in India blogging is overwhelmingly a male domain.

According to Microsoft's MSN and Windows Live Online Services Business, which conducted the survey. "The research showed that blogging is a social phenomenon with Asians primarily blogging as a means to maintain and build their social connections and to express themselves. [However] blogging as a corporate or business tool still appears to be nascent in most markets, with little interest from consumers in blogs from business or political leaders.

"The exceptions are online powerhouse Korea where blogging has permeated all aspects of life and India where a culture of self-improvement is seeing business related blogs become very popular."

According to the report sharing a diary or photo album with loved ones was the most often cited reason for starting a blog (53 percent). "User created content and community based online services are really propelling the Internet in Asia right now," said Alex Stewart, Director of Microsoft's Online Services Business, Asia Pacific. "Today, instead of sending out mass emails or holiday letters, people are using their blogs to express themselves".

iTWire - Blogomania grips Asia, says Microsoft