The website will now be repositioned as an e-commerce portal such as eBay.
The bigwigs of cyberia are cashing in on the popularity of reality TV and social networking amongst the youth.
It was a mixed year for social networking sites, which began the year with a bang. Social media sites like MySpace, BigAdda, Ibibo, Orkut and Facebook firmed up operations while sites like Yahoo Mash, popularly touted as competitor to Facebook, shut shop in September 2008 after a year of being launched.
Bhatia is planning to launch his new social networking website, Apnacircle.com, soon.
Competition with online international networks hots up in cyberspace.
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