Snob and Bandwagon Effects in Social Networking Websites

Abstract:

Social networking websites enjoy enormous success on the internet. According to web information company Alexa, four out of the top ten global websites are social networking sites1. The opportunity to publish and share personal information attracts millions of users from all over the world. Social networking services pioneer Friendster had over five million users in its first months of launch alone (Mika, 2005). My Space up-to-date attracted a significant 5.75% of global online user population (Alexa.com).  While My Space is still a leading social networking website, it experiences major challenges trying to keep up with its largest competitor Face book that have more than 60 million users.