Facebook leads the pack in Social Networking, since its user count crossed Myspace couple of months back. More i use, more i am loving it. Facebook is still private and its valuation ranges from $6 billion -  $15 billion. Companies in queue to invest in them. I think Microsoft is the only big company that has invisted $250 Million in facebook. Seems like complete buyout of facebook could be unlikely.

Cool features in facebook – I love the suggestions that the facebook gives on friends you might know. Hundreds of third party apps integrated to facebook platform.
Not so cool – Search feature.

Orkut , owned by google, seems like a clear looser in front of facebook and myspace. except for India and Brazil it hardly has any users across the world. It sucks even more after its recent release of theme, making pages even more horrible.

Cool Feature -  tagging photos(facebook has it too).
Not so cool – user interface.

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