Answer: MySpace.

Jeff Clavier reported today that MySpace surpassed Yahoo in terms of traffic according to Hitwise. This makes MySpace the number one Internet site. According to Jeff:

• MySpace generated 4.45% of all U.S. internet visits
• Top twenty search terms used were related to MySpace

News Corp paid $580MM for the web property last year, in a deal increasingly looking like a bargain. Only time will tell, but this sort of growth is amazing.