While this isn't at the scale of say, Kraft acquiring Cadbury or even Apple picking up Lala there's been some M&A (that's mergers and acquisition for those not up on business-speak) action in the realm of the teen tycoons. The 17 year old CEO of Teens in Tech, a teen blogging community, Daniel Brusilovsky [@danielbru on twitter] has announced the acquisition of the site Yazzem.

Yazzem, based in Michigan and founded by two 14 year olds, is a topic-based microblogging service. A user starts a topic thread in 200 characters or less and can carry on a back and forth with other users. Think of twitter with an attention span. Brusilovsky plans on integrating Yazzem's tech and features into the Teens in Tech service, which has finally emerged from private alpha this week.

Yazzem was acquired for the princely sum of $15,000, or 1.2 million XBox Live points.

Teens in Tech will be hosting a conference in San Francisco come February 6th at the Google offices in San Francisco. Who's laughing now?

[via TechXav]

For months now the talk of the virtual town has been about teens and Twitter. The he said, she said has gotten out of hand. For every Morgan Stanley intern who claims that teens just plain don't use the micro-blogging service there is a Pew Internet report that puts that assertion to the sword.

The latest twist in the tale shows that Millennials are beginning to turn to Twitter as the median age of Facebook has aged seven years (from 26 to 33) since May of last year. Sarah Perez of ReadWriteWeb breaks down the Pew report that has the status update king coming in as the second youngest social network to MySpace:

37% of those 18-24 now use Twitter when only 19% did back in December 2008. And in the slightly older 25-34 bracket, a portion of which could still be considered Gen Y, 31% are now using the service compared to only 20% in December of last year. Combined, these two groups account for more than half of Twitter's network. 

Not that Twitter CEO Evan Williams is jumping for joy at the prospect of a user base that is skewing younger. In a recent interview with Fortune magazine the Twitter co-founder implies that he's okay with teens steering clear of his service, since the focus of Twitter isn't social networking anyway: