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Diversity is an important characterization aspect for online social networks that usually denotes the homogeneity of a network's content and structure. This paper addresses the fundamental question of diversity evolution in large-scale online communities over time. In doing so, we study different established notions of network diversity, based on paths in the network, degree distributions, eigenvalues, cycle distributions, and control models. This leads to five appropriate characteristic network statistics that capture corresponding aspects of network diversity: effective diameter, Gini coefficient, fractional network rank, weighted spectral distribution, and number of driver nodes of a network. Consequently, we present and discuss comprehensive experiments with a broad range of directed, undirected, and bipartite networks from several different network categories -- including hyperlink, interaction, and social networks. An important general observation is that network diversity shrinks over time. From the conceptual perspective, our work generalizes previous work on shrinking network diameters, putting it in the context of network diversity. We explain our observations by means of established network models and introduce the novel notion of eigenvalue centrality preferential attachment.