Jim Winstead just announced Yahoo! has purchased blo.gs. The cloud interface will still be available for general use.
What does this mean? Yahoo! now has a ping beacon that is already built-in to most weblog software as well as a database of blog posts from the past few years. The cloud technology allows Yahoo! to easily share content update notifications inside and outside the firewall, allowing for easy sharing between blo.gs and Yahoo! Search for example. Jim originally planned on pulling the cloud interface offline at the end of last year and it is good to see the continuation of the service. Many companies offering blog search capabilities have been able to bootstrap using the blo.gs and weblogs.com update stream.