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Faced with competition from the microblogging site Twitter and a burning desire to make lots of money off of its social networking platform, Facebook is redesigning its user home pages.

The new Facebook site will add several interesting new features to users intended to provide more information and in real time. In other words, any changes you make will be updated instantly in your friends’ home pages which are now called profiles. Another important feature is that users will have more control over what they and their friends can see, this will add friend list filters, and application filters. Another minor features that will be added includes a change to the Facebook inquiry "What are you doing right now?" to "What's on your mind?" and the elimination of the 5,000friend limit so you can now sign up an unlimited number of friends.

This update in Facebook will also be seen in the design as well, as it would be cleaner than ever. Content will be split up in a 3 column format which will give a little more orderly hierarchy structure to all the information you want to quickly get and also the ad section will be grouped by the type of content users most care about .

These changes in Facebook will also have several pluses for marketers as Facebook wishes to increase the number of ads by many. As Brandon Evans, managing partner of strategy and services for Mr. Youth said, "marketers are being included in users' social graphs just as their friends are, as well as being able to publish information to their subscribers' home pages."

The potential downside to that, he said, is that brands will need to accelerate their comfort level with consumer chatter about their products. Some brands are already swinging the doors wide open, of course. However, "they all will need to do this in the next few years, and brands who want to actively participate on Facebook will need to get comfortable more quickly."

So at the end this update of bringing more personalized, timely information will mean a higher competitive advantage as competition for Facebook rise up and the target market is increasing rapidly.