Watch out Meebo there is a new kid on the block. It looks like Yahoo is working on a new IM/chat service. MyM is currently in private beta, so we do not know much besides that. Most likely it will be a web-based instant messenger that will bring Facebook, Friendster, MySpace, LiveJournal, and IM services including AIM, MSN Messenger, and Meebo together.

To us this does not make much sense, but we guess that it is all about convenience. Also Yahoo wants to be the #1 website.