Competition between giant social networking companies had been going on for quite some time now. These giant companies that I am talking about are for example Bebo, Facebook, Hi5, Orkut, Friendster, Myspace, Windows Live Spaces and many more. (If I missed out on any important social networking companies, please do let me know via comment on this post) These giant social networking companies are fighting for users and application developers to use their social network website. Friendster.com and Myspace.com had been one of the top social network website that has more than 50 million users worldwide. Since the entry of Facebook to the world of social networks since 2005 it had managed to rocket up pass Friendster and Myspace with its great number of registered users. Despite all that, Friendster and Myspace still remain very popular in Asia.
In a 2006 study conducted by Student Monitor, a New Jersey-based limited liability company specializing in research concerning the college student market, Facebook was named as the second most “in” thing among undergraduates, tied with beer and sex and losing only to the iPod.
Facebook platform is based on application that made Facebook unique. Applications on Facebook can be developed by anyone who could earn some money from advertisements. Facebook also has a photo application which made Facebook known as the number one site for photos in the United States and ahead of public sites such as Flickr, with over 8.5 million photos uploaded daily. These are a few functions that Facebook provides to its registered users that dominated the social network world. In 2006, it is rumored that Facebook is earning revenue over $1.5 million per week.
Other giant social networks are now ganging up on Facebook with the help of Google’s new project OpenSocial. OpenSocial is now live and can now be used after its opening yesterday. “OpenSocial is a set of common APIs that application developers can use to create applications that work on any social networks (called “hosts”) that choose to participate.” These applications from OpenSocial are very similar to Facebook’s application. Social networks that are participating in Google’s initiative includes Orkut, Salesforce, LinkedIn, Ning, Hi5, Plaxo, Friendster, Viadeo and Oracle. Seems like Facebook too will be joining in the collaboration very soon.