Mountain View, Calif. - Social networking service Plaxo, which claims 15 million registered users, has been put up for sale in an auction that hopes to draw as much as $100 million, The New York Times reported on Thursday, citing people briefed on the offering. Founded in 2001, Mountain View, Calif.-based Plaxo has raised more than $20 million in funding to date for its service, which helps users keep their online address books updated.

The company has been overshadowed in recent years by upstart services like Facebook.

Plaxo has reportedly hired Revolution Partners to handle the auction, The Times reports.

Related Links:
http://www.nytimes.com/2008/01/03/technology/03plaxo.html