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More and more people using Facebook use it as the hub of their activities online or through mobile devices – from games to meeting friends, and soon there will much more." Advertisers are already acutely aware of what access Facebook can provide and they are willing to pay good money for it.

Jass Sarai, Pricewaterhouse Coopers UK technology leader, says: "The size of the investment in Facebook is an indication of how valuable intimate details of individuals can be to advertisers.

Facebook is clearly the top tool for social networking, but new and arguably more innovative social networking alternatives have emerged in recent years to fill the void left by Friendster and My Space.

So if you're looking to network somewhere other than Facebook, here are five alternative sites.

It has $2bn of revenue so we are looking at 25 times multiples of sales.

By contrast, Google trades at a discount to this at 25 times earnings.

But the $50bn price is too big for some to swallow.

Scott Kessler, a technology analyst at Standard & Poor in New York, said: "Candidly, this is a huge valuation for a company we know little about.

Pinterest One of the most popular social networks on the web today, Pinterest has received widespread acclaim for its fresh take on the standard photo sharing social network.

"Pinterest is a good example of an alternative social network that focuses on a simple feature -- photo sharing -- which has a complete social network built around it," said Christopher Gentile, CEO of the new social network Family i Board.

This more focused approach to social networking helps create a simpler and more intuitive user experience.

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