5.3.2. Social Networking Services# 2003 saw the launch of several popular social networking services: Friendster, Myspace, and LinkedIn. These were websites where the primary purpose was to build personal profiles and create a network of connections with other people, and communicate with them. Facebook was launched in 2004 and soon put most of its competitors out of business, while YouTube, launched in 2005 became a different sort of social networking site built around video.
It's fascinating how swiftly the "profile + connections + messaging" formula became the norm once these platforms debuted. Facebook's ascent illustrates the power of network effects in social media; when a critical mass of users congregates on a single site, rivals find it tough to gain traction, even with comparable offerings.