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• Google OpenSocial: It's no Facebook killer

  Posted Oct 30 2007, 09:53 PM by Kim Peterson
  Filed under: Google, Facebook

  There have been rumors far and wide that Google is working on its own social network. Turns out the company is working on something better, though it's no threat to social networking darling Facebook.

  OpenSocial, which Google will introduce this week, lets programmers make applications for many different social networking sites at once. Doesn't sound like a big deal. But first you have to understand that part of Facebook's appeal are the 5,000 programs people have built for the site. You can compare movie tastes with other users, share music, ask questions and pick your top friends. Those programs -- as silly as some of them are -- keep users on Facebook and keep the ad revenue flowing. They're a big reason why Facebook is raking in the cash from Microsoft and others right now.

  Developers are busy creating programs for Facebook and ignoring all the other social networking sites out there, including Google's own Orkut, a network popular in Brazil but not in the U.S. So Google bands together with other social networks and figures out a way that developers can write programs for all of them at once.   Read More...

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• Microsoft-Facebook deal: What a snooze

  Posted Oct 25 2007, 08:06 AM by Kim Peterson
  Filed under: Google, Microsoft, Facebook
  Rating:

  So Microsoft spent $240 million for a 1.6% stake in Facebook. Big deal. Microsoft spends that kind of money the way most of us shell out for a grande latte. It means nothing.
  
  That hasn't stopped people from freaking out about Facebook's valuation. Microsoft's investment values the social networking site at $15 billion. But understand this: no one is buying Facebook. That $15 billion is an empty figure. It also means nothing.
  
  I read this deal two ways. First, Facebook got a nice chunk of change from Microsoft without having to give much in return. Second, Microsoft made an advertising business deal and that's it.   Read More...

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• Oh come on. Facebook is terrorizing Google?

  Posted Oct 16 2007, 11:12 AM by Kim Peterson
  Filed under: Google, Microsoft, Facebook
  Rating:

  

  The headline "Facebook's got Google running scared" makes me giggle.

  I love Facebook, but it's a ridiculous notion that this overhyped and overvalued social network is making Google execs wet their pants. Facebook is the current belle of the social networking ball, grabbing more attention and notoriety than any of its predecessors. These networks fall in and out of favor (remember Friendster, anyone?) but Facebook has taken some truly ingenious steps to stay at the top. Its best move was making it easy for people to develop applications for use on the site.

  Microsoft and others are vying for a small stake in Facebook, and 23-year-old founder Mark Zuckerberg is reportedly juggling term sheets from suitors these days. A stake of less than 5% is going for $300 million to $500 million, according to the Wall Street Journal. What an outrageous valuation.   Read More...

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