NEWS Subscribe
May 25, 2007
Facebook Is the New MySpace?

Without mentioning the coveted News Corp. property, Facebook CEO Mark Zuckerberg said the time has come to open up the social networking site once exclusively targeted to the college crowd. According to an Associated Press report, the 23-year-old founder of Facebook said the company planned to encourage other companies to sell products and create software for use on the website in the hope of expanding the social network into an all-purpose online destination.

"Until now, social networks have been closed platforms," Zuckerberg told about 750 programmers attending the company's first developer conference, dubbed f8. "We're going to end that."

Since opening up to non-college users last year, Facebook has grown exponentially, boasting 24 million users who have logged on in the last 30 days. However, some analysts have wondered if the site can maintain its red-hot growth rate of 100,000 new registrations per day.

One early example of Facebook's commerce-friendly stance could be a classifieds section, which the company launched earlier this month.

WHITE PAPER LIBRARY

View More Research »