Squidoo has been here quite a while, but it has not found me until recently when my brother went for a seminar on making money online. Basically, Squidoo is like Million Dollar Wiki, but it is free to take any lens (which is what they call a page) available. On the other hand, you will share revenue with Squidoo for profit generated.
It is actually quite a good idea to start this website but credibility is very doubtful comparing with Wikipedia. While Million Dollar Wiki had much more freedom including adsense code, affiliates and much more. Squidoo limits to only affiliate links, amazon products, orbitz referral and eBay referral.

The payment sharing formula is
5% on top will go to charity foundation, then the rest is shared 50%/50% between editor and squidoo. Not sure if the adsense is shared, which I doubt they could calculate them per post.
Although Squidoo may actually be a good place to get a credible related link. All you have to do is to create a lens with your target keyword, write a good post explaning things about the keyword and the link back to your website. Their system is quite user friendly, which is why you could complete doing your page in minutes.
If you check, most well known lens have high Page Rank, therefore I strongly that it will definately be helpful to get a link from a Squidoo’s Lens.
Popularity: 9% [?]
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Hi =)
Great post and real nice blog!
Squidoo is a great place to gain internet exposure. Each Squidoo page (lens) can either be a portal to your web site, or can be a stand-alone mini-site.
The key to Squidoo is traffic. Of course, natural, organic traffic is optimal. For simple tips to properly SEO optimize a Squidoo lens (such as optimizing title tags, tags, etc), feel free to stop by my blog.
Keep up the good work!
~PotPieGirl