Valleywag is a professional blog site that was started by some college students. They initially planned on starting the blog as a way to spread celebrity gossip. After a while though they started finding dirt on anyone and publicizing it on the world wide web. They caught a college intern falsely calling in sick to work and ended up putting this on their site. This story, as well as stories that were similar to this, made the blog site controversial and somewhat unpopular.
In the midst of all the gossip there are some actual informative stories though. For example they recently published an article on the 50 worst businesses to work for in America. This could be helpful to job seekers (although with the job market so scarce today; any old job will do.) They also have pranks that they do on the regular. I find these quite humorous. The most recent one involved pranking Twitter into thinking that Kanye West tweeted naked pictures of Kim Kardashian. The old fake Tweet prank-o-rusky, always a classic!