Yahoo has launched plan to turn its big internet empire of web services into a massive social network. This is termed as Yahoo’s Open Strategy. It will be something like centralized profile management system. Yahoo’s free e-mail, MyYahoo, Mash and chat messenger will be the launch pads for users to begin building their social networks. Actually Yahoo is planning to consolidate all its web services to a new platform so that internet users will have smooth, friendly and appealing experience while using this Yahoo Social networking. Now Yahoo is more focusing on user-generated applications. Like Facebook’s application platform, Yahoo has future plans to beat Google’s OpenSocial with its own forthcoming Yahoo Application Platform which will allow third-parties to create apps based on Yahoo web services.

Yahoo has got big warehouse of 500 million email users. So with the help of these users, Yahoo Open Strategy would easily become an incredibly powerful and profitable move for Yahoo. According to Yahoo’s estimates, it is possible to create 10 billion latent social connections that exist between Yahoo’s 500 million monthly users in the form of e-mail addresses, instant message buddy lists, address books and other shared connections. Also, Yahoo is aiming to make it easier for users to share information via their established social ties, while protecting privacy by not inviting unintended disclosure of personal details. It will provide a single console for users to manage this data.

How will Google, facebook, microsoft and myspace will tackle this Yahoo’s open strategy challenge will be one of the most interesting things to watch on internet.