Update: Moved this post from the reporters’ log to the main feed because it was attracting a bit of attention.
StudiVZ, the largest German university-oriented college network with 1 million members, is under fire for borrowing wholesale from Facebook, its site’s poor performance, and unsavory behavior by one of its founders. The venture-funded company has apparently met with Facebook, leading to speculation about a potential acquisition, but evidence of talks of that nature seems to be completely unverified.
Altogether this is drawing quite a lot of attention; StudiVZ is the third-most popular search term on Technorati at the moment. For an extensive English summary, see this post by blogger Karsten Wenzlaff, who has interviewed StudiVZ. Wenzlaff also points to mainstream media coverage of the issues from today’s Spiegel Online. (Thanks, Nico!)