Facebook has reached the 300 million user mark and taken more market share away from Myspace. Facebook took in more than 50 million users since July and has 70 percent of it’s user base outside of the US.

Facebook is a private company but it set to make more than 500 million in 2009. The rapid growth of Twitter and Facebook has left Myspace in the dust. The best thing about Myspace is music which doesn’t seem to retain users long enough.