Japanese Social Net Mixi Sees US Markets In Its Future, Eventually

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Joseph Weisenthal

paidContent.org
Wednesday, August 27, 2008; 5:07 PM

Top US social nets Facebook and MySpace haven't been able to capture the top spot in Japan, where publicly traded Mixi reigns supreme. Mixi itself, however, may be looking to expand in North America and in Europe. In an interview with Reuters, CEO Kenji Kasahara said the company would like to eventually enter English speaking markets, although the end service could be something other than the actual Mixi service. Beyond that, it sounds like any plans won't take hold for awhile, as Kasahara said the expansion will come "some day". Right now, the main thrust is on looking for ways to diversify its business?95 percent of revenue comes from ads. Also, per the article, the stock is off 40 percent since its explosive IPO two years ago, so there's added pressure to goose the business.

If it does eventually come to America, it will likely have a tall order (just as any new social networking entrant). CyWorld anyone?

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