Buzznet, a social media network, originally founded in 2005, is certainly not a brand new startup, but this 3 year old Los Angeles based company is really beginning to take off. 

At its launch, Buzznet was really just a slightly more socialized version of Flickr, meaning thats it main focus seemed to be about sharing photos.  Since then Buzznet has transformed into a full on social networking platform and while it may not be as commonly known as Myspace or Facebook, its gaining some ground.  Nielsen ratings are putting Buzznet as one of the top 10 social media sites, with huge year over year growth.  Couple that with the announcement earlier this summer that Buzznet received it's second round of funding in the 6M range, partly from the same VC firm that has funded Myspace, and you've got a feeling these guys are on a good roll.

So what makes Buzznet so good?  Well for one thing it really does do most everything Myspace is doing only better.  Much like Myspace originally (and to some degree still is) focused specifically on music and media, Buzznet is now a general social networking site that sort of centers its community around artists and pop culture.  As opposed to the clean and simple look that Facebook takes or the clutter hell of Myspace, Buzznet is basically cool and sleek. It allows you to customize the look of your profile to a much higher degree then Facebook, but mostly manages to do it without looking as bad as Myspace.  Buzznet also has a deeper media interaction in its community than the likes of Myspace or Facebook because you can post things like photos, movies, audio, etc not just on your profile, but on other people's too (so as fan you could do things like create your own remix of your favorite band's song and post on their page).  

At the end of the day though, what makes us have the most faith in Buzznet is the adaptability they've shown.  They've evolved their site from a photo sharing community to a much more diversified social media platform.  If they continue their impressive growth, and management continues to show a pension for flexibility, they may be phased to take on the big boys soon.