The last time we had a major "social networking" type of effort it was with collaboration, and the poster child for the effort was Lotus Notes. It largely failed -- not because the idea wasn't a good one, but because the company fundamentally didn't understand that the market was being made hostile to the concept. Not understanding the human and organizational aspects of collaboration doomed Notes to failure as anything but a complex email platform.
Source: http://ectnews.com.feedsportal.com/c/34520/f/632000/s/2128ccae/l/0L0Stechnewsworld0N0Crsstory0C75570A0Bhtml/story01.htm
VOLT INFORMATION SCIENCES
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