They say not all that glitters is gold. Hi5, the world's third-largest social network behind Facebook and MySpace, hopes to prove otherwise. The San Francisco-based company is creating an online ...

Earlier today, we heard social network Hi5 was laying off a large number of their remaining employees. When we pinged them about this, we expected the usual "no comment" or simply no response.

OLX (a competitor to Craigslist in the United States) and hi5 (a competitor to the likes of Facebook and MySpace on a global level) claim the fresh partnership serves to consolidate both companies ...