The document discusses the history and evolution of the social networking site Netlog. It details that Netlog was founded in 1999 and became the pan-European market leader by 2008. However, a complete overhaul of the site for version 5 was disliked by users and wasted time as competition advanced. The founders then took a data-driven approach, focusing on short iterative development and social discovery features based on user behavior data to revive Netlog's success.