Wall street Journal reports that the Google the Internet Search Giant is in the process of developing a major competitor to Facebook who is the uncrowned king in the social networking space with solid 500 million members. A report says Google has lost a significant share in the search market recently. Google is planning to diversify its business portfolio and is in talks with many makers of online games to develop a competitor of Facebook. The question is will Google be able to develop a powerful competitor against Facebook and gain a market share? If Google brings in another social networking site of similar taste like some already running in the market, then it is likely to fail just like something similar to what happened to Google Buzz, because the social networking space is already occupied by powerful players like Facebook and Twitter. To beat them Google needs to make some interesting additions to the existing features in the market, this would be a major requirement to attract users. Google has Aardvark but it has not been able to do anything remarkable at least with Google Search. Yahoo has something special to offer people with Yahoo Answers, in which people discuss their issues and find solutions to one another’s problems. Facebook has major advantage; with over half a billion members and that those active members spend a good amount of time using Facebook. Facebook questions data could be used by search engines and help the people making searches, if the product delivers to the expectations, but it is difficult to say whether Facebook will share it in future or not. The company is widely ill-famed for being stingy with its data, from its open web point of view, in spite of its own open graph initiative. Facebook informed Search Engine Land that it has no plans as of now to provide search engines with its questions and answers, though not being sure about how things may shape up in future. Google is continuously trying to grab a market share in the social networking market and break Facebook domination. Bing is having a roll as well in this situation as it keeps on finding ways to compete with Google and as it already powers Facebook with its own web search results. Q&A is becoming a stimulating segment of the search industry, and there a possibility of breaking Google’s dominance in the search market, due to the number of players in the market and the teaming up of Yahoo and Bing in USA. Google, Bing, Facebook, Yahoo all have their different places in the market, and Facebook answers could play a major role in changing amount of searches from one direction to another. Bing powers Facebook and gets a chunk of market share in the process, but obviously Google doesn’t like it and competing with Facebook/Bing has become a part of the game. Google could be as popular as Facebook or even more if it gives people a special reason to use it. Just creating another Facebook won’t do? Why would a user give up on one Facebook and join another? There should be many more features that would be added in it, so that to make it extraordinary and unique, this could help Google become a big player in the social networking segment. Everyone knows Google could handle a monolithic ad campaign.
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