Social Media is evolving fast; competition and the search for ROI are driving platforms forward rapidly.

This week has seen some significant announcements from the 3 major players in the space.

Facebook is becoming more like Google as it trys to fend of the Internet Giant from it’s sacred territory. Dependant on privacy settings, you can now subscribe to someones public feed without becoming a friend.

If you are an actual person, with a page, you can now merge this with your profile, along with other upgrades allowing for more flexibility. Whether Facebook users transition over to these new tools remains to be seen; for many Facebook is the place to meet with friends and family, and no more.

Google+ has released it’s first API, allowing developers to link into the platform using third party applications. At present it is limited to accessing public updates, but I am sure this will develop quickly. Even this light release is likely to spawn a multitude of integrations with existing platforms like HootSuite and Co-Tweet, as well as totally new functionality many haven’t even dreamt of.

Not to be outdone Twitter was busy looking for new revenue streams. It announced the release of a UK focussed blog at more or less the same time it is getting cosy with major brands in the UK with regards sponsored Tweets. This gives us a great insight into their business strategy. The blog is aimed at end-users, initially suggesting popular lists of personalities to follow and at the same time encouraging participation by asking for further suggestions. By doing this Twitter are enticing consumers onto the platform. With a steady build up of UK based users, this gives Twitter a strong position when negotiating with potential advertisers.

Whilst these 3 jockey for position I have another episode of Sean’s Week On Twitter for you ,with 5 of my best Tweets of this week.

The New Social Network: Who’s Nearby, Not Who You Know

Location based services have been growing in popularity recently and the sure winner in the check-in space to date has to be Foursquare. But a new trend is emerging; not following or liking someone, not checking in at a location, but checking-in with those around you. Social is now moving to “discovery mode” and developers are coming up with creative ways to enable you to discover who is around you.

Social Media Strategy Tool by Vocus

Businesses are always being told they are missing out if they are not taking part in Social Media, then seemingly without the normal business rigour they dive in head-first. This new free online tool now helps businesses develop a strategy regardless of what stage they are at with Social Media implementation.

It’s Called Google Propeller & It’s Aimed at Flipboard

Google’s business is about delivering relevant content at the right time to the right people, and drawing revenue by applying well targeted advertising. Not wanting to miss out on the phenomena of connecting RSS Feeds, Twitter Streams and other content into tablet applications that deliver the results like a magazine, Google is getting in on the act. Propeller seems to be the project that may give applications such as Flipboard and Zite a run for their money. There is advertising revenue to be had in those feeds and Google doesn’t want to miss out.

10 Intriguing Insights on the State of Social Media and Blogging

Jeff Bullas presents some interesting info-graphics to demonstrate what is really going on in the social space.

Fab.com Launches The World’s First Online Pop Up Shop

Pop Up Shops are a familiar sight on the high street, but online? Working with the Fast Company iPad App, Fab.com are populating it with designer offers for 30 days. It’s limited to members only, aiming to give it exclusive appeal…Maybe they should put these shops on parked domain names too?

Have any of your own picks from Twitter this week? Please leave them in the comments below.