Facebook Joins Location-Based Social Networking

One of the newer spins on social networking is location-based Social Network. There are a few companies such as Foursquare, Yelp and Gowalla that have a long-established stronghold in this area. But Facebook has a tremendous user base and has the potential to overtake it's competitors if they do it right. And last week, they launched their version of location-based social networking called Facebook Places.