Facebook has become a phenomenon in the Internet Social Networking space growing massively. Recently they touched 400 million users figure. But, while Facebook dominates the US social networking market, similar international networking platforms are keeping a global monopoly on virtual social life out of reach for the California-based company. Facebook faces some strong challenges ahead of them for their future growth. Last year, they filed a lawsuit against German Social Network, StudiVZ for the violation of copyright laws, because of mimicking of its logo, features and services.And to add to their woes, StudiVZ has already 5.5 million users as compared to 2.2 million users of Facebook in the same areas. Facebook has to somehow find out a way to thwart these kind of copyright violations in future. Otherwise, it might prove costly to them in future.
Moreover, Facebook faces some strong competition from other popular social networking platforms like Orkut, Hi5, Bebo. Orkut has a strong presence in the South American and Indian market. Bebo has become extremely popular in the United Kingdom and Australia. These platforms are a real threat to Facebook's global aspirations. Facebook should find out innovative ways to move ahead in future and maintain their exponential growth.
One of the right steps that they took yesterday, was to forge a deep integration with Yahoo. Users will now be able to log into Facebook from their Yahoo homepage. Facebook will benefit a lot from this partnership, because they will now have access to Yahoo's global market presence.
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