There is no doubt that social networking is thriving, well in most parts of the world. It’s so popular that, even a six year old kid knows there is something like-bebo, MySpace, facebook (not in any particular order). Like most of the web 2.0 stuffs Social networking’s popularity relies on power to engage massive community. The enormous success of social network startup like-facebook, twitter, bebo, MySpace definitely attracting hungry businessman. Why? Off course they are trying to figure out a way to utilize this to gain profit.

To be honest 99% social network still lacks any business model that can produce cash, apart from advertising revenue. More scarcely only a very handful companies really have figured out how to capitalize on all that coveted word-of-mouth and networking. So clearly the problem lays within the social network nature such it is, where lack of room for business to fit in. For example—Twitter, a mighty social networking tool that growing in lightning speed and bagged couple of awards in recent years. Not only awards but as well they grabbed US$35 million in VC funding lately. But still now there is no sustainable business model. Social networking monetization is still just a topic of discussion rather than reality.

Social networking even became a buzz at mobile community, more and more mobile social networking evolving every day. The ability to share thoughts, pictures and video with friends seems tailor-made for the mobile community. But same as previous scenario what’s not so clear, is the how businesses may utilize that same technology. Social network like MySpace even got a bundle deal with Mobile operators to go with handset on sale, that’s a sign of progress though. But it’s also true many companies are still wary of adopting social networking solutions for security or other reasons. This circumstances here practically blocking the whole business aspects of social networking.

So here we are at – with one of the most powerful community engagement tool in history, “Social networking”, with almost zero or should I say minus possibility of business. I guess the business aspect of social networking is still premature!