Strands, a Corvallis, Ore.-based startup that has shown success in the music social recommendation space, is relaunching Strands.com into a private beta online activity aggregation service. The company hopes to take the lifestreaming features offered by Web 2.0 darling FriendFeed a step further by adding the ability to build a “taste profile” based on your social media usage patterns.

Through the taste profile, Strands intends to battle the information overload from services such as Twitter and FriendFeed by using your online social circle to filter out relevant content you will find pertinent. “Hot Posts” will show you which online media items, such as news stories and videos, are currently popular among your friends to help you discover new things.

The company recently raised $55 million in capital and reports sales of $12 million in 2007. When I asked Jason Herskowitz, Strands’ VP of Social Media, how the company plans to monetize its new offering, he said Strands is merely looking for eyeballs to drive sales of its other offerings, such as Strands Social Player and Strands Business Solution.

I’m skeptical about how successful the new Strands.com service will be — it’s yet another service to sign up for and adopt. However, if implemented correctly, the service stands to bring the signal-to-noise ratio of lifestreams down to a tolerable level.