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In the past few years, we have seen a number of social networks start from nothing and rise to become some of the most popular web dwellings. These include the likes of Facebook and Twitter. Now, Wall Street Journal is planning of launching a social network of its own, one that will be focused on finance.

The new social network will be launched by News Corp., which is the parent company of WSJ. It’s hard to see exactly how WSJ intends to carve itself a niche in a cyber world that is already crowded with LinkedIn, Pinterest, Facebook, Twitter and Google Plus.

Many have speculated that perhaps WSJ may offer a direct competition to LinkedIn via its upcoming offering. However, WSJ has trashed such speculations, citing that the new social network will be more geared towards providing ‘like-minded people’ a space to discuss finance.

It would seem, from the aforementioned description, that the network will have a limited audience. A forum about finance can attract only so many users and wouldn’t be able to grow beyond a certain margin. That said, it would still be a great platform if WSJ is able to set the new network up with the right kind of tools and features to help interested users interact with each other effectively.

According to reports, the new network will also come with the option for instant messaging so that users can directly and privately contact each other.

Courtesy: Social Times

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