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This morning, E Consultancy have reported that Facebook is now the largest social networking site based on unique visitors, overtaking MySpace:

• Facebook - 6.5m unique visitors
• MySpace - 6.4m
• Bebo - 4.4m
• Windows Live Spaces - 2.3m
• Friends Reunited - 2.1m

It seems that Microsoft are keeping a very close eye on their growth with a view to an investment valuing the site at $10 billion.