by Senior Staff Writer Tyler Knott Gregson

The recent news about Google wanting Twitter, Facebook hitting 200 million users, Twitter still exploding with popularity and the simple fact that social networking is now hands down the most popular thing on the internet, it looks like Yahoo! is officially wanting in, and setting it’s longing gaze directly on Demand Media.

If the rumors are true, and Yahoo! is wanting in with Demand Media, it could mean they are cooking up their very own social networking idea. What it is remains to be seen, whispered about or unearthed, but nevertheless, if they are looking at Demand Media it means a few things. According to the article we just found:

“Yahoo could be looking at Demand Media. The company takes user-generated content of all kinds and on all kinds of topics–especially via video–from an army of freelancers and leverages it into massive traffic that it monetizes. It’s also the one of the bigger suppliers of video to YouTube, which it also monetizes. And, through the acquisition of Pluck, the company also laces social networking tools throughout the sites, as well as for many well-known third parties. Demand has upwards of 70 million of unique visitors per month, at sites like eHow and GolfLink.com, with about $150 million in annual revenue.”

With that kind of revenue, what would a deal with them be looking like for Yahoo!? How much would they have to spend to get a piece of that kind of social networking love? Rumors are saying anywhere from $1.5 to $3 billion. Yes, billion.