Hi5 took a hard hit today: It laid off around half of its 100-person staff after potential funding fell through. But its plan for a comeback — making money through virtual goods — is moving forward.

Social networks need to find a way to make money fast. Online advertising never really worked well on social networks in the first place, and with online advertising feeling the same pressure as ...

Social network hi5 is introducing a casual games section to its site today, complete with its recently-launched virtual currency (called “Coins”) and a range of more than 40 arcade, casino, card, ...