The extraordinary rise of b5media continues as both Problogger and the Blog Herald become part of the new network. Add in the absorption of About Weblogs, a women’s network run by Shai Coggins, giving b5 around 50 active blogs, and you have something close to lift-off.

In general, blog networks need two ingredients to succeed : authority and numbers. In my book, authority is the prime quality. With the addition of Problogger, Blog Herald and About Weblogs, it’s hard to see the network failing in its goal of being the WeblogsInc of 2006.

I have to declare an interest, as, in addition to Syntagma Media, I also write three blogs at b5. The whole blog network scene is incredibly interesting just now, especially since AOL bought out WeblogsInc for a reported $25 million. There’s a bull market in blog networks that will last as long as the bears are kept at bay.

It’s hard to see where blogging can fail in this Web 2.0 climate, unless there’s a world depression of major proportions. The immense potential of blogging will continue to grow business for quite some time to come.

Success lies in building virtual real estate rapidly, and selling out at precisely the right moment, as Jason Calacanis did. Cynical? No, just worldly wise.