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I saw the original post at valleywag right after it was posted and started to look into it. Apparently, there is a link to a special Privacy Policy that applies only to myM at the bottom of the "invite only" page. The link goes here: http://info.yahoo.com/privacy/us/yahoo/mym/ So this makes it apparent why they said it would be similar to meebo; the only thing that is obvious is that it is skinnable and it lets you chat on multiple networks, including AIM. If anyone else manages to find anything more, COMMENT!!!
Thanks.
P.S. @FakeMA: Michael Arrington would never say words like that
From what you guys wrote about myM, I'd rather stick with my 8hands.
It's soo lame to redo the same thing from scratch. Meebo have been out there for years..