HERALD TRIBUNE — Sep 24 — South Korea’s Cyworld got started in the U.S. last month. Started seven years ago, Cyworld, has spread out in China, Japan, and Taiwan. A German version will open by the end of the year. Chris DeWolfe, MySpace CEO, said it was on the verge of announcing its entry into "two large Asian markets." In Japan, MySpace would take on Mixi, a 2.5 year-old social networking site (five million members). Mixi’s stock market debut valuation hit ¥220 billion ($1.8 billion) on Sept. 15. In Taiwan, Wretch (two million members) stakes its fame on its list of celebrities. Members of Mixi can join only if invited by current members. Personal profiles are bas ed only on text, except for three photos (premium service allows more). Most members do not post pictures of themselves, opting instead for photos of celebrities, scenery or pets. Cyworld profiles are dominated by the Miniroom, a 400×200-pixel space that users can decorate with digital furniture, wallpaper and other objects. An avatar ‘Minime’ is also in the room. Users pay real money to buy the various virtual objects to spice up the lives of their Minimes.
Mark Brooks: I hear Cyworld is extremely profitable.