In one of those local experiments that Yahoo (NSDQ: YHOO) keeps doing from time to time, it has launched a new social networking service called SpotM in India. This is Yahoo’s third or fourth attempt at entering social networking space, which has been a weak spot for it for it all along.

For now, the service is in closed beta, and aimed, of course, at the youth market. From Pluggd.in, some features: allows users to define secret friends that their other friends won’t be able to see; and SMS integration/Anonymous chat: private conversations with others without revealing their mobile number. I think that anonymous part will raise some privacy issues…