News.com reports that Twitter is making Twitter Search more relevant and useful. Former VP of Search Quality for Google, Santosh Jayaram said that Twitter Search, which currently searches only the text of Twitter posts, will soon begin to crawl the links included in tweets and begin to index the content of those pages.

Jayaram confirmed that Twitter Search will also enable a reputation ranking system soon but did not disclose how reputation would be calculated.

Now Microsoft and Facebook will work together. According to a Wall Street Journal, Microsoft Corp. has invested a $240 million in Facebook Inc.

Near future the online advertising boom will continue and the popular social networking site will be among the biggest beneficiaries.

Microsoft will also give Facebook funds to invest in new services, buy equipment, make acquisitions and hire engineers. Facebook’s Mr. Zuckerberg has said he plans to expand from more than 300 employees today to about 700 employees a year from now.

Facebook has some greate plans to reveal a new advertising system that will let advertisers visit an automated website to place targeted ads on Facebook and elsewhere on the Web, say people familiar with the matter.

Sphinn – A new social networking site launched on July 12, 2007 for internet marketing professionals. Danny Sullivan is behind the creation of Sphinn.