Look out MySpace and Facebook - here comes Wallop!

Wallop is here, and its taking on MySpace and Facebook! The Microsoft backed company developed a social networking site where users will pay to customize their profiles. Will it work? Time will tell. Wallop will need to lure trendsetters in order to prove they are cool enough to pay for. As a marketing tool for music, it doesn't seem as useful as MySpace. Don't forget though, Friendster has recently made a play for a comback too!