#65: Facebook challenges MySpace

Facebook became a big hit among my friends.

"I've added you as a friend on Facebook..." This plaintive introduction to the web's fastest growing social phenomenon has been appearing with growing frequency in email inboxes across the world as what started life as a way for American college friends to stay in touch has become one of the internet's hottest properties.

The rise of Facebook, created by Harvard drop-out Mark Zuckerberg three years ago, is challenging the dominance of MySpace in the social networking market, which may go some way to explain why that site's owner, Rupert Murdoch's News Corp, has considered exchanging it for a 25% stake in online portal and search giant Yahoo! [Read the rest of the article by the Guardian.]