Pinterest is the latest social networking tool that is rapidly gaining popularity and fan base due to its design that intrinsically provides for shareable content, which is basically an element of the design seen in most websites. Pinterest has taken this very popular element and allowed users to experiment with the online content of their liking which they ‘pin’ to their profiles and share on a seamless platform for others to see and like. Pinterest allows users to add people who’s ‘pinned’ news and internet ‘stuff’ they’d like to follow making it an interactive social network that is essentially celebrates internet and encourages the culture of social share-ability.

However, there is a raging debate the is currently focusing on the API that Pinterest hasn’t yet released into the public domain for fears on over manipulation and loss of the original social tool structure. API is short for Application Programming Interface which allows developers and programmers to add features as desired and sometime on demand for majority users. The aspect designed runs only on the interface of the social tool and is available for users to use through a financial model which varies from developer to developer. While comparisons are rife about the usage of API and Pinterest’s fears that the tool may eventually go the twitter way that left many developers angry when their additions to the interface were remodeled and integrated into the newer versions of Twitter as a whole.

Facebook has fired the latest salvo in the ongoing patent saga between Facebook and Yahoo. The social networking site has accused Yahoo of infringing on 10 of its patents, according to a court filing. The decision comes close on the heels of Yahoo taking Facebook to court over patent infringement last month.

The move only sheds more light on the dark side of technology, where competitors continue to file claim after claim against each other for patent infringement. The patent wars have already rocked the Smartphone and Tablet space with companies such as Apple Inc, Microsoft Corp and Motorola Mobility Holdings Inc. embroiled in legal battles.

The other important aspect of Facebook’s move is the timing; the company is all set for an unprecedented initial public offering, valuing the company at up to $100 billion. People following the tech space say companies are more vulnerable to patent suits, when they coincide with IPO’s, investors analyze and think twice before investing. Having said that about Facebook, Yahoo has its own fair share of problems to deal with, the Internet giant is battling against dwindling revenue, while it’s CEO Scott Thompson is facing ire from activist hedge fund Third Point.

In 2010, Facebook became world’s most visited online resource beating Google to it. As a countermove, Google started its own social networking space. This particular move gives us an idea about the time we live in.

Social Media has grown and is no longer just a space for communication and content sharing as it originally began. Now social media has started to influence the success of business and has become a thing of interest for investors and consumers.

In 2011, social media began to significantly influence the global markets too such an extent that now it helps in determining trading strategies and stock value.

In a world connected through online social forums and networks that are gaining importance in terms of market research and clientele acquisition for companies and organizations alike, Citibank has recently invested in the same direction by introducing the reward points through the Facebook social network platform. This trend which was until recently being adopted by socially conscious organizations like non-profits and NGOs and Citibank is one of first few corporates to leverage the user activity on Facebook as a means of inviting potential client interest and marketing their brand.