Many investors are expecting Facebook to file papers for an initial public offering sometime later this week. The company, which was founded in a Harvard dorm room less than a decade ago, is expected to be valued at nearly $100 billion by Wall Street.
And if these early reports are true this is shaping up to be the biggest Internet IPO ever.
Google is trying once again to challenge Facebook's domination of the social networking business. Its main social networking site "Orkut" is very popular in Brazil, but in the rest of the world, Google trails Facebook.
But the company has a new attempt to catch up.
The new social network is called Google Plus, and you're not allowed to join it. At least, not yet.
"It's small but growing," says Bradley Horowitz, who oversees Google's communications products and social applications.