For google rivals in social networking arena this news will surely make a stir.
On tuesday google introduced a real-life sharing service called Google+.

The major advantage of this service over other social networking sites is that it is designed for sharing with small groups — like colleagues, college roommates or hiking friends — instead of with all of a user’s friends or the entire Web. It also offers group text messaging and video chat.

The service, which will initially be available only to a select group of Google users who will soon be able to invite others, will let people share and discuss status updates, photos and links.

The debut of Google+ will test whether Google can overcome its past flops in social networking, like Buzz and Orkut, and deal with one of the most pressing challenges facing the company.

You can find more info at:-
OfficialGoogle+
http://goo.gl/TZlbt

Source:Official google blog