Web 2.0 : Social Networking Tool

Fast company has an interesting review on Web 2.0 social networking tool and their market valuation.

Myspace.com, for $580 million last year the acquisition signaled the rebirth of the Internet boom
Facebook, the social networking site for college students has raised $38.2 million
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My Thoughts : Social networking tool targeting particular social segment might not work out in future. For instance a student having facebook during graduation and LinkedIn for building business contacts, Bebo for something else…will this feasible in long run? I have one Hi5 account, created a Bebo when a friend requested, left Orkut and but continued using LinkedIn.

I was one of the key designers and developer for Spoke.com which was the first few social networking based tools (though Spoke targets enterprise networking and solutions like SalesForce and others). LinkedIn has targeted professional community successfully.

Friendster couldn’t sustain the success after Myspace arrived, however Myspace had a good strategy in allowing various community co-exist in the same social space. In a single Myspace convergence of various social groups happened. Taking this argument further, many of the social networking tools are definite bubble-burst type.

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