Yahoo announced a beta version of its new blog service called Yahoo 360. The release will be by invitation only at first until some testing is done.
There was talk about this back when Microsoft released MSN Spaces. Spaces, as you may recall, got some big publicity at release time and then faded into obscurity. I'm not sure how Spaces is doing these days. One problem with Spaces is that it has a "me too" feel to it.
One of the interesting features of Yahoo 360 is the ability of the blogger to restrict who can view their blog. I know at least a few people are interested in this feature since it has been the topic of a few posts here at Blogger Forum.
Available March 29, the free test will integrate Yahoo's existing products, such as instant messenger, photos, local search, music and groups with new offerings such as blogs, mobile blogs and sharing tools for recommending movies, restaurants and other items. --CNN
Both Spaces and Yahoo 360 are geared more towards the personal blog meant for sharing within circles of friends.