Yahoo! has released a new service called myM. It is an invite-only private beta service, but when Yahoo! released a new product to the market, it will bring some amount of stir. It might acted as an IM interoperability service that allowed users to social network with their friends. A vexed question, how robust the business model is this product, as there are countless social networking services available in the market? However, one thing for sure, Yahoo! is aimed to become the king of Web 2.0 since they’re the one who owned few successful social networking sites, such as Yahoo! 360, Yahoo! Groups, Flickr, Rivals.com, and etc.

This new service is first came courtesy of ValleyWag, as they claimed that it works similar to Meebo, which allows users to aggregate multiple IM clients into one, and proposed to usher the next-generation of IM and social networking aggregator, and this allows users to communicate among Yahoo! IM, MSN, AIM, and Meebo. Moreover, cross communication across social networking sites such as Friendster, MySpace, and blogging service which is LiveJournal is also available.

Though the features proposed sounds very good, the general thinking is that too many similar services available in the market will likely pose a significant impediment to the future reception of myM. For all the new products (in private beta) developed by Yahoo!, I always remain worry that the buzz is running far ahead of the products.