The term "social media" might conjure up images of tossed sheep or sparkly profile pages, but a new study proves businesses need to take it seriously.  Consumers are quite willing to both share bad experiences and learn about what’s happened to others.

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A literary agent is suing the Wikimedia Foundation and Wikipedia contributors for negative comments, but Wikimedia says it’s not liable for user-generated content.

Barbara Bauer filed a lawsuit in New Jersey Superior Court alleging that the Wikimedia Foundation is liable for postings that called her one of the "Dumbest of the twenty worst" agents, who has "no documented sales at all."

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When it comes to social networks, a new study shows that men are more likely than women to downplay the first part of the term.  Women, according to Rapleaf, tend to have deeper relationships and a greater number of friends.

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Now that most of the Microsoft-Yahoo stuff is (at least temporarily) out of the way, it’s time for the rumor mill to latch onto some other topic.  One contender is the possible acquisition of LinkedIn.

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GodTube, a faith-based Christian video sharing site and social network has raised $30 million at a $150 million valuation.

The funding comes from GLG Partners, a hedge fund. The site had previously raised $2.5 million from private investors, including Norm Miller of Interstate Batteries, according to paidContent.

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