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Food is big, lot of startups are doing well:
http://www.foodspotting.com,
http://www.foodzie.com and recently
http://www.yumm.com.
Three different models, very popular and getting lot of traction.
Interestingly enough, i just remembered this video from Loic Lemeur while in Davos talking about food trends...
Food fascinates people. Food brings people together. Perfect to create online communities.
Everyone likes food, right? Great information if you've recently registered a domain for the purpose of starting a food blog. lol.