Monday, October 25, 2010

Facebook Evolves To Stay On Top

In the past six months, Facebook Inc. has rolled out about 20 new features, services or partnerships covering a diverse spectrum of technologies, from photos to search to commerce.

But what they all share in common, according to Benny Evangelista at sfgate.com is the Palo Alto company's grand ambition: to make itself the foundation of the next online wave - the social web.

In that vision, everything we currently do online - communicate, search for information, make purchases - would be shaped by our social networks.

That is why Facebook is moving quickly to take advantage of how it has already "become ingrained in our everyday lives," said analyst Atul Bagga of the investment research firm Think Equity LLC.

Bagga cited one personal example - he now receives more birthday greetings on his Facebook wall than he used to get by e-mail, phone or greeting cards.

In just six years, Facebook has propelled social networking from being an online network of U.S. college students into an everyday habit for 500 million people of all generations around the world. The company says members spend 700 billion minutes each month on the site and that more than 1 million external websites are tied into its platform.

Read more here.

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