One of the best known platforms of blogger community for efficient blog-tracking and social networking, Yahoo! MyBlogLog is going to shut down on 24 May 2011 and will no longer be in service after that. The exact reasons for pulling off this service are unknown but this seems to be a well thought of move from Yahoo! to recommend and redirect its MyBlogLog users to the uprising and new Yahoo! Pulse. 
Yahoo! Pulse is a recently launched service that allows users to share and see all the latest updates from multiple social media networks like Yahoo!, Facebook and Twitter in one convenient place. The main drawback with using Yahoo! Pulse as an alternative to MyBlogLog is the absence of the stronghold feature of MyBlogLog which being the blog-tracking service. But with Yahoo! Pulse, users can easily create their own identity on Yahoo! to easily connect and engage with people, content and applications. As MyBlogLog will no longer be in service from 24 May 2011, Yahoo! has suggested some steps to ensure that you save your account information and contacts that are important to you. Though somewhat laborious, following these steps becomes a must if you wanted to save your valuable info and stay in touch with your MyBlogLog contacts.
Check out Yahoo! Help on How to Save Information from Your account?
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Thanks 4 the headsup on this. MyBlogLog just seemed so overrun with people with bad blogs all trying to get readers it never really did anything for me anyway. Then they tried to sell "premium" service which was just a way for peeps with $$ to push to the top of the heap, Popularity is not exactly the right answer either. This pulse functionality doesn't seem like a true replacement as it does not track blogs. But its so easy to track blogs anyway on Google Reader or whatever.
@Colleen Yah ur right, MyBlogLog is neglected by many as it never really did anything except tracking blog updates and may be for this very reason Yahoo! is going to terminate it soon. Yahoo! Pulse even-though doesn't provide blog tracking it can be very useful if you're have a lot of friends and followers on Yahoo!
What a joke. Now Yahoo Pulse is getting rid of its blog feature as well. Are we being forced onto Facebook?
I don't think we stand to lose much if not for backlinks. Anyway, I'm saving some stuff and looking how to effectively work with the Yahoo Pulse. Thanks man.
Yahoo Pulse is also shutting down blogging, guest comments, and photos as of 16 May 2011.
http://pulse.yahoo.com/y/download_tool
Seems Yahoo is totally soured on social networking.