It is astonishing to see the way Facebook has grown in the last six month. As at January 2008, Myspace was 19 million users more than Facebook , but by the end of 2008 (December) Facebook grew added 100 million users more than Myspace.  Unbelievable you would say! I guess Mark wouldn’t have predicted this growth.

Facebook stands currently at about 150 million active users. As at December 2008, Facebook drew about 22% internet audience. That translates to about 1 – 5 people on the internet goes to Facebook.

Myspace, launched just a month before Facebook, is said to be earning more than times 3 of Facebook earnings. People have argued over and over about Facebook monetization given the number of users it currently commands. I think Facebook is more of focusing on user generation and confidence to improve its strategies.

Facebook has really carved the top stop and remain still. Business and groups are using it more than ever before. Tell me, if you have opportunity to reach 150 million people to present your product won’t you be happy? That is what Facebook has effectively done!

Given the economic downturn worldwide, online advertisement and social medial remains most cost effective way to get your products and services accros to the people.

Nigerian social networking site should be more innovative in their service given the extent to which this niche can grow in a short while. Nigeria is still a virgin country and whoever is innovative will carry the day.

What is your view? Do you think Nigerian Social Networking site are try? Can they do something better? Share your comment.