"WackWall is a free tool for creating custom social networks with easy setup and complete feature set. "
It has
# Photo, Video sharing;
# Blogs, forums, friends;
# Comment, tag, rate any kind of content;
# Privacy and profile customization;
# Groups;
# Events, wiki; (coming soon)
# Collaboration, file sharing, video-conference tools; (coming soon)
# ... and much much more!