Facebook has built an application that runs on the Apple (AAPL) iPhone. TechCrunch believes that it is the best application yet for the handset.
The new product is a win for both companies. The iPhone is doing everything its can to show that it is different from products built by larger manufacturers like Motorola (MOT) and Nokia (NOK). Facebook wants to show the market that it is still hotter and growing much faster than rival MySpace, owned by News Corp (NWS). One Facebook director has said that the company is worth $10 billion. If it cannot show ongoing increases in its user base whatever value it has as an acquisition or IPO will drop.
For now, these partnerships make it appear that MySpace runs circles around the larger MySpace.
Douglas A. McIntyre
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