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Now that Facebook grows larger and larger every day, the world’s most popular social networking site has just gotten even better!

Facebook recently released its virtual store for the developers. From now on, Facebook users can buy not only virtual goodies but also real gifts from the virtual store! This newest innovation in networking sites make it possible to developers to make money out of millions of Facebook users at the same time giving these users the benefit of buying online without the hassle of looking for their items in other real stores.

Facebook says American Greetings Interactive, GreetBeatz, Someecards and Real Gifts are the first four third-party application developers to enter the virtual store. Payments on the Facebook virtual store are made thru credit card, PayPal, Offerpal Media and SuperRewards.

Facebook seems to find out that there’s a need for their site’s search tab to be improved. Yes, the leading social networking site’s search tab is too lousy for it only provides limited options. Though in the beginning, this is not really a subject to be improved on Facebook’s site but as the site’s growing number of users and applications, expansion of its services should also be taken care of.

Last August 10, 2009, Facebook said that they are going to roll out Facebook Search to all of its users. Previously, it was announced that this will be randomly selected to its users for some testing. But now, Facebook explained on its blog that from now on, users can look for their friends and their own status updates, photos, links, videos and notes for the past 30 days. This is also applicable to subjects you wanted to search on your Facebook pages which you’re a fan. For those who decided to provide their contents available to public, users can also access for those. Also, people’s profiles and related Facebook Pages, groups and applications will still be part of the search results.

To continue dominate the world of social networking, Facebook is looking for some areas where they could maintain its stability. This is primary the reason why Facebook tried buying the popular micro-blogging tool Twitter which remarkably becoming their company to compete over MySpace. Unfortunately, Twitter rejected the offer.

But trying their luck with similar tool, FriendFeed agreed to Facebook thus, taking 12 of its employees to join Facebook and FriendFeed’s four founders to take ‘senior roles on Facebook’s engineering and product teams.’

Though Facebook is becoming a Twitter-like recently, both companies who are competing for social site supremacy are still different in many ways.

The Facebook’s acquisition of FriendFeed will certainly make the first find more stability on its current status as the world’s most used networking site.

Facebook is planning to provide more dollar-earning projects within their own social networking site. Aside from the regular ads users can see on its site, there will be contextually targeted ads. This will be presented to the advertisers.

Of course, Facebook is well-positioned to do these aggressive advertisement. With its millions of users who spend a lot of time in the site, placing contextual ads will be a good step to earn dollars with these users.

Facebook is also concerned with the cookies and other spams that would affect its users that’s why they will continue to test every project before releasing it to everybody.

The targeted market will be based on the member’s profiles themselves. This will be based with the user’s status updates, fan pages and other related pages where advertisers can put their contextual ads.