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The social networking site says an "extremely sophisticated" attack may have allowed hackers to gain users' login details.

As compared to MySpace and Orkut, Facebook is a better social networking site. The features and applications are simply outstanding.

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"The world is converging around Social, Mobile and Video media and we are just now beginning to see the impact on culture and politics in the US and around the world," said Mr. McDonald. "VGTel is poised to bring together applications and services in a way that will enable brands to connect with consumers and content in new, more engaging ways. I believe in VGTel's team and I believe in their vision. I look forward to working with them to help make that vision a reality."

The eagerly awaited Facebook IPO could happen in first quarter of 2012. WSJsays the social networking giant is likely to go public in 2012.

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Worth a read....