There have been a lot of rumors floating out there about Google creating a new social networking site to compete with Facebook. Google Chief Executive Eric Schmidt will not confirm it though. The rumors began to surface when Kevin Rose, the founder of social aggregator Digg made the announcement over a month ago. Other former Google employees then went on to confirm talk of this new social network. According to Rose, the name of the new network will be “GoogleMe”.

Checking domain whois records show that Google owns the domain names “google.me” as well as “googleme.com”. However google.me is a Bosnian language Google search engine, which more than likely won’t be changing anytime soon. Googleme.com could very well be the new domain name for the social networking site if Google does in fact opt to make a new website.

In the past, Google has tried it’s luck with other social networking type sites such as Orkut.com, Google Buzz, and Google Wave. The question remains as to what exactly they have planned for this new one. Eric Schmidt seems pretty convincing when he says, “The world doesn’t need a copy of the same thing (facebook).” So how will GoogleMe be any different from those social networks that are already out there? Could we all be in for a huge surprise? Will Google come up with something that puts a new twist on social networking? We can only wait and see.