Facebook overtakes MySpace, Microsoft looming

Facebook has overtaken News Corp’s MySpace site as the highest-traffic UK social networking site with 6.5m unique users last month, according to data published by Nielsen//NetRatings. Since October 2006, Facebook has rocketed from 448,000 unique users in the UK to 6,506,000 during August 2007.

Meanwhile, it is being reported that Microsoft is poised to buy a 5 per cent stake, valuing the site at as much as $10 billion.

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