Social networking investments are certainly happening at a rapid pace and many never would have thought Comcast would purchase one. As you may remember however, Plaxo service is integrated to the telephony offering Comcast sells and the contacts are actually automatically downloaded to special web browsing home phone I wrote about many months ago.
For Comcast this move ensures an important partner does not get taken out by a competitor and it further allows the company to leverage Plaxo as it rolls out more web services.
By having profiles of users and tracking them online, the cable giant can now target advertising more effectively leading to higher premiums and better content targeting for users of Comcast services and websites.
Oh and by the way, I suppose this news puts an end to the rumors that Google was buying the company but then again there could have been an auction process or Plaxo may have reached out to the search giant for interest prior to the sale going through.
This could be a good move for Plaxo as it adds a stronger parent into the mix. The cultural issues of dealing with a social network/cable company merger is another story.