The rumors are finally confirmed-- Forbes reports that Yahoo! has purchased mybloglog, a blogger-focused community and stats service that has benefited from former Feedster CEO Scott Rafer's focused touch--VP Bradley Horowitz is quoted saying: "This closes the loop between readers and publishers. Every publisher wants to know his readers, and the readers want to find out about each other. It's the power of implict networking."
One of the best aspects of this acquisition, from my end, is that Forbes says Rafer is going to stay with the company and evangelize within Yahoo! as part of the Yahoo! Developer Network.
Scott is one of the shrewdest people I know and so good at selling his vision--he'll bring some wonderful drive and energy to integrating mybloglog into Big Purple.

Update: Da Yahoos speak--Bradley's e xultant, writing :"It's like we've been partying in the dark, and MyBlogLog turned on the lights! Now we can all see who's in the room."
Chad tells the tale, saying "If blogging was originally about building a community and having a conversation with people in that community, then MyBlogLog provides the missing link that makes those connections more real." And JZ has some cool thoughts here.
Rafer speaks up on his blog, Eric's and team are moving West, and Arrington has commentary and kudos.