Weekly Digest of the Social Networking Space: Oct 29, 2008

I’m respecting your limited time by publishing this weekly digest on the Social Networking space, which I cover as an industry analyst. By creating this digest (I started this over a year ago) it really helps me to stay on top of the space I cover.

I’ve created a new category called Digest (view archives). Start with the Web Strategy Summary, then quickly scan the succinct and categorized headlines, read text for my take, and click link to dive in for more.

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Web Strategy Summary
This week, LinkedIn makes some considerable moves forward, first raising $22million that will let them stand the downturn and prepare for acquisitions, they also launched an application platform with 10 partners. Expect to see more media focus on business social networking as some scramble to network to keep, find, and improve their jobs.

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Platform: LinkedIn launches Application environment
Perhaps one of the most anticipated announcements is LinkedIn’s ability to have third party developers launch applications that can interact with their over 29million user base. This has some interesting impacts on the corporate intranet, collaboartion and beyond.

Positioning: Where does Plaxo fit in?
CIO magazine offers a perspective and asks about how does Plaxo fit in within the business related online social networking space. Does it compete with LinkedIn or really become a contact and content aggregator?

Culture: Students sabotage competitors for college applications
Interesting story how students will show pictures of those competing to get into colleges in order to win the spot for the right college. Right out of an 80s movie but now with updated technology.

Funding: Linkedin Raises 22 million
Able to obtain a very large round even after the economic warnings was a smart move for LinkedIn, they were able to clinch this money bag that will help this already profitable social network stand for the long haul, and be ready to make some key acquisitions in a downturned market.

LinkedIn: Is LinkedIn poised to take Facebook?
The Standard has an article suggesting that the less buzzed up social network LinkedIn may be poised to take Facebook, do see my quotes, as well as Jyarmis.

Behavior: Why friending may lose it’s luster
Wired article shows why losing touch with some may be a good idea.

Video: Fascinating video about spread of information
Watch this video and pay attention to the segments showing the rapid growth of social networks here in the world, notably how Facebook reached 50 million in two years –much faster than any other medium we’ve ever seen. (update: content no longer available, I dunno why, will try to find another link)

Analysis: Facebook platform showing sluggishness
This analysis by All Facebook shows how growth has been slowing to the platform activity due to recent design changes.

Doh! Worker calls in sick, but tells truth on Facebook
Genius calls in sick but outs himself on his Facebook status. Reminds me of this case of the Facebook faerie, what’s up with kids these days?

If you’re a social network, or widget company, I want to know of your news, send me an email, or leave a comment below. Help me stay up to date.