Classmates.com was one of the first ever social networks. Founded in the early days of the Internet, 1995, it was ahead of its time. However, it’s business model of requiring members to pay for use, is badly outdated given the current landscape of free-use socnets like Facebook and MySpace.

Apparently, the old dog can still hunt, according to its chairman Mark Goldston. Speaking Wednesday at the Jeffries 4th Annual Internet Conference, Goldston said Classmates had signed up one million new paid subscribers in 2007, equal to three years worth of previous paid membership growth.  He also noted that “fourth-quarter sales for Classmates had increased 27%…