euronews /The social networking site Facebook is taking on Google and Yahoo by launching its own messaging system. The new communication platform will unify email, SMS, Instant Messaging and Facebook chat.

Monday's launch has been viewed with some anxiety by rivals Google and Yahoo.Their email systems have over 400 million users between them. Mark Zuckerberg, the CEO of Facebook, said his users would soon be able to own a "facebook.com" address.

Facebook and Google's intensifying rivalry is likely to play a crucial role in shaping the future of the internet. Media technology analysts claim today's
email system is too slow and too formal for many, especially the young.