Report: Tagged Acquires Hi5
Small-but-profitable social network Tagged has acquired ailing social network Hi5, according to a Wall Street Journal report. Tagged CEO Greg Tseng tells the paper that this will double Tagged’s active users from 10 million to 20 million and bring total registered users up to 300 million.
Founded in 2003, Hi5 was touted by comScore as the third most popular social networking behind MySpace and Facebook in 2008. As the market matured over the next three years, both MySpace and Hi5 fell on hard times with developers migrating away from the platforms.
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