Microsoft Finally digging into Social Networking?

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I got a mail from Microsoft suggesting a start of the new site of them


Site is called:-Windows Live Planet


Can this be considered as the Microsoft’s Entry in Social networking field,Can be advertised undoubtedly with MSN and Bing,with some quality MSN followers/lovers,this new “Planet” already has some backup kinda thing..but can it make out to compete Facebook/Twitter and other Social networking Champs?



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