At 1 pm EST Facebook will be announcing a new product. Stay tuned for updates.
There's lots of speculation around Facebook copying some sort of Google+ service such as video chat in a Hangout like service.
Google+ has caused a tsunami of buzz, no pun intended, in the social media world. The Google platform is not being being called a closed beta but rather a project. Invites to the service have been given sporadically and currently you cannot join even if you have an invite code.
The closing of invites has come from Google needing to deploy more servers to handle traffic to the service.
Watch the feed of the announcement at live.twit.tv
Mark Zuckerberg has mentioned Season 2.7
Projects that have taken 6 months of development will be rolling out soon.
Mark Zuckerburg is giving narrative of social networking from the past 5 years.
Social will be everywhere. It's only a matter of time until it's billions of people on social whether its Facebook or someone else that they're using.
The next five years isn't about wiring up the world but what type of apps and services can you build out on top the existing network.
Social apps are going to be the focus of future development. The internet has hit its maturitys and now social is at that pivot.
What metrics do you use? It's not just about active users. Although they are looking forward to the billion mark.
You measure it by the value users are getting, how much time they spend and so forth.
The rate at which they're sharing is growing at an exponential rate. The amount of stuff they share today is twice as much as they did a year previously. In a year they will be sharing twice as more as they did today.
Humans are really bad at understanding exponential growth. Think of folding a napkin 50 times, how tall will it be? Most people say a few feet but it actually reaches the moon and back.
The amount of sharing per person is growing at a much faster rate than the 750 million users they have.
There wasn't that much to do on Facebook in 2004. As the site went on more features allowed more sharing such as photo albums and news feed.
Skype and Facebook are teaming up! Reported from a link inside Skype.com | Not from Zuckerberg speech
Group chat, new design and video calling are the three announced services today.
Mark is stating that groups has been very important to Facebook. Now you can do ad hoc chat which is important to its users.
Group Chat, New Design, and Video Calling are pictured on a slide behind Mark.
Video calling is with Skype!!! Mark just said it.
Even if user you're calling hasn't downloaded a skype plug in they can still see that you're calling and then given the option to install plugin.
Mark says that independent developers are best in class in designing apps on top of social networks. This is better than one company doing everything.
Mark has said that they want to be the new ecosystem.
Mark has just walked off stage.
Go to https://www.facebook.com/videocalling to try the service now!
Video calling is currently unavailable with the Chrome browser.
The most exciting part is over. Now the developers are now demoing each product. Later I will post an in depth review about the services.
Group video chat is currently unavailable but don't count it out. The one to one aspect is the most important for of a relationship standpoint.
Mark is commenting on Google+. There are lots of imitators but now that Facebook is the social ecosystem your're going to start seeing apps built on top of the Facebook platform.