Youth Tech

{August 17, 2006}   Cyworld …

If you haven’t heard or read about it yet there is another social networking site that has just opened it’s doors here in the US. Cyworld is South Korea’s most popular social network. “Cy” is the Korean word for “relationship.” It represents a playful, kitschy mix of Blogger, Flickr with videogame like avatars. The article in Business 2.0 states that it brings in about $300,000 a day. It has discovered a new business model for these types of sites. The site is free, but if one wants to personalize it they must pay. Pay though is hardly what one might think, for the average user purchases virtual items for their profile to the tune of about $7.00 per year. By comparison MySpace with its atrocious ad laden site makes about $2.17 per user per year.

Check it out: Cyworld
Get the low down from Wikipedia:


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