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6 Social Networking Stocks to Consider

WINDERMERE, Fla. ( Stockpickr) -- By now you've probably heard about the huge investment that Goldman Sachs Group (GS - Get Report) has made in Facebook.

In case you missed it, Goldman has decided to invest $450 million in the social networking Web site, along with a $50 million investment from a group of Russian investors at Digital Sky Technology. Goldman clearly sees a big opportunity here to capture a piece of the booming social media market. And when Goldman sees an opportunity, it doesn't mess around -- it goes after the best. And Facebook is the best.

Facebook is hands down the leading social networking site, with over 500 million active users, and it overtook Google as the most-visited site in 2010. The Goldman investment now values Facebook at around $50 billion. That might seem like a rich valuation, but let's not forget that the company is reported to have brought in around $2 billion in revenue in 2010. The cash infusion from Goldman will allow Facebook to accelerate its pace of acquisitions and attract the top talent to help lead the company into new growth markets.

Related: 7 Big Brands, 7 Big Stocks

What's truly amazing about Facebook is that it's not just a recreational site. It's also a leading destination for companies to interact with their customers and market new products and services. If you're a business operating in this modern mobile world and you're not utilizing Facebook, you're missing out on a booming trend that could help you capture new business. Facebook could become the first Web site that every business on the planet inevitably ends up utilizing. The power and growth from social networking is still in its infancy.

Retail investors need to start looking at ways to profit from this trend right now, while we're still in the early stages. Goldman Sachs has set up a special-purpose vehicle that will allow its clients to buy shares of Facebook if they have a minimum of $2 million. But if you don't have the $2 million, don't worry -- there are plenty of publicly traded ways to play the social networking boom.

Here's a look at a few stocks that could benefit big off of the growing social networking trend.
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