Social networking during a crisis

Top execs are jumping into today's rapidly growing social networking environment, as the financial crisis unwinds many are trying to connect with their peers and seek answers externally.

According to Spencer Green, Chairman of GDS International, the company that's using the web 2.0 technologies to revolutionize social networking with MeettheBoss.com, with the recent market events we have entered hard times, "where the global economic climate is in disarray due to the lack of communication."

Meettheboss.comhas offered that platform where top CEOs, CIOs and other executives can talk about the market, among other things. Completely industry driven, professionals can video conference, launch discussions and ask questions. "It's not so much a social networking site, it is a business tool," said Green to WBJ.

However, MeettheBoss is not the only business-focused social network that has benefited from the market turmoil. LinkedIn.com has experienced a rise in its membership since August, where the company is now adding a new user every second and those from the banking sector has doubled in just two months, according to Cristina Hoole, the company's head of marketing. Currently, the website has more than 25 million members, however, Green claims that even with such a large number of users, "no one uses it daily."

The value of social networks is obvious and there's a number to choose from, Facebook, Plaxo or LinkedIn. Each of them offers something different and individuals benefit from the electronic rolodex. Analysts predict that these website will continue to rise in popularity and see an increase in users as people will try to establish business connections for potential job opportunities.

Meanwhile, MeettheBoss is taking a different approach, aiming for a niche audience. Currently it has over 25,000 top-level executives and applicants are selected based on their employment and title. According to Green, the portal turns down 66 percent of all applicants every day to ensure the site doesn't become too unmanageable. (AO)