Some of the world’s biggest internet companies are bidding for stakes in social networking site Facebook, says Computing magazine. Find out why.

Business faces up to social networks

Some of the world’s biggest internet companies are bidding for stakes in social networking site Facebook, says Computing magazine.

Big names such as Microsoft, Google and Yahoo have all been linked with social networks of late. Whether there’s any truth in such stories is unknown, but it’s clear that pretty much everyone is getting excited about site like Facebook.

Why? Well, figures for August show Facebook for the first time overtaking MySpace – the rival site owned by Rupert Murdoch’s News Corporation – with more than 6.5 million users compared with the 6.4 million on MySpace.

Sales and marketing will be a major growth area, according to Tim Parlett, chief technology officer of peer-to-peer money lending site Zopa.

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