Google Prepping "+1": Yet Another Social Networking Platform Doomed To Failure?

Google is readying a new social networking product. But with recent social media false starts combined with all of the other company projects can Google really become King of social media the way Facebook has?

Google’s forays into social media hasn’t fared all that well lately. With last year’s much-hyped Wave launch that fizzled into obscurity coupled with weak presence of Google Buzz has everyone wondering if Google can get its piece of the action dominated heavily by Facebook and Twitter. Rumors swirled yesterday with the release of a screenshot purportedly showing Google’s ultra-secret social project now known as Google +1. The company hasn’t said much about the project or the leaked screenshot but initial reaction to the news has been somewhat critical, indicating people are now more skeptical about new Google initiatives than ever before.

Speculating on the potential of Google’s latest crack at becoming the next “like” button with a rumored social toolbar and a Facebook groups-like feature called “Loop”, is likely premature. Google has been prepping 2011’s launch of Chrome OS and with the noise of a eBook store launch this week these rumors have been mostly relegated to the rumor mill for now.

Whether they can shake the missteps of past social forays remains to be seen. The company certainly has the capability and the manpower to dedicate to bringing something fresh to the table, but let’s not forget that the company has its hands in many different pots. This week alone has seen announcements for the Chrome Web Store, the operating system launch, Nexus S and the new version of Android OS. This is one busy company. Facebook on the other hand, does one thing – and does that one thing very well. What’s certain is that Google wants to own the entire computing experience one way or the other, and social networking will be big part of it.