Booming Facebook Closing Gap on MySpace

Social networking websites are busy places—especially in the summer months
By Jim O'Neill,  Newser User
Posted Jul 24, 2008 11:30 AM CDT
Mark Zuckerberg, founder and CEO of Facebook, introduces Facebook Connect while delivering the keynote address during the annual Facebook f8 developer conference in San Francisco, Wednesday, July 23,...   (AP Photo/Eric Risberg)
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(Newser) – Facebook may be No. 2 in the social networking industry, but its 40% growth from June 2007 to the same month this year is closing the gap between it and market leader MySpace. MySpace—which has 72% of the market—showed negative growth in visits for the year, says BizReport. Facebok users spend an average 21 minutes on site, MySpace a full half hour.

Over the same period, social networking site MyYearbook saw 318% growth, and Tagged saw an increase of 45%. Bebo declined 41%. BizReport says users visit social websites 40% more often in the summer than during the school year.