The world's love of Facebook doesn't seem to be letting up.
Since it started in 1994, the number of users has grown exponentially year on year. There are many who complain; and to be honest, you either like it or loathe it.
It's a vehicle for people to air their feelings, publish thoughts (even blogs like this one!) and communicate and share photos with friends and family around the world.
Often courting controversy over the way it has 'enforced' it's privacy settings on the community; Facebook on the whole is massive success story. Businesses (and I mean big corporations) have embraced the concept of the fan page - now you can become fans of your favourite products, and get news and updates direct.
Gaming is a big part of the site too, with Farmville currently one of the biggest games to date. Developers are continually working to bring out new ideas, that will hook you in, and hopefully entice you to part with some cash.
You can set your status to tell people what you're up to. I find that some are updated on a more regular frequency than is 'normal'. Surely, that's what Twitter is for?
Another key area is that of invitations to events; groups; there's even a Marketplace, where you can buy and sell items.
Facebook has a user base of over 400 million people; how many are active I don't know, but with a market that size, they must be doing something right.