OpenSocial is a set of common application programming interfaces (APIs) for web-based social network applications, developed by Google along with MySpace and a number of other social networks.
It was released November 1, 2007.[1] Applications implementing the OpenSocial APIs will be interoperable with any social network system that supports them, including features on sites such as Hi5.com, 99factor.com, MySpace[2], orkut, Netlog[3], Sonico.com[4], Friendster[5], Ning, and Yahoo!.
As big investments and acquisitions become routine in social media, its time to take a look at the fundamental differences between social networks and traditional businesses on wall street.