Monday, July 4, 2011

The Growth of Social Networks

My Space, FaceBook, and Twitter are the established social networking communities on the Internet. Now Google wants to join the fray by introducing a new social network site. Google tends to dominate the market in Search Engines and this has carried over into free e-mail service and most other areas that they have entered. Will it happen again in the social networking community? Can Google become dominate in the social networking community as well? Time will tell. Google is attempting to go slow but is being overwhelmed by people tying to sign-up for the new service. They actualy pulled a trial version off the Internet because of over demand. What does that tell you?

Will FaceBook be able to maintain it's dominance in the society networking community?

My Space was the first social networking community on the Internet. It did very well until the introduction of FaceBook. My Space's popularity plumeted once FaceBook came on the scene.

My Space, nce the dominate social networking site on the Internet, was acquired by News Corp, from it's originatotrs for $580 million in 2005. Just recently, My Space was sold to Specific Media for a mere $35 million. The sale marks a fall from grace for My Space which once was valued at over a Billion-dollars.

My Space peaked in 2008 with 76.3 million users. I think I was one of them! Recently, membership was down to just 35 million users. Will the new owners be able to bring My Space back to prominence? They claim that Justin Timberlake would take an ownership position in My Space. What does that mean? Did he actually invest cold hard cash or was his stock in the company a gift for promotional value?

But more to the point; Why do we need more than one social network? Do we want to check multiple social networks to see who posted what? Aren't we likely to be reading the same messages over and over again? What purpose does that serve?

But can we resist signing up for Google's proposed new networking community when it becomes avaiable? Ultimately we will each choose a social network that suits us and will be loyal and faithful to just one. After all, many of us walked away from My Space and never looked back.

And so it goes...

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