The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK (

Trefis

) -- Google+ has finally opened its doors to the public. You might notice the huge blue arrow on Google.com that takes up nearly a quarter or the page. For

Google

(GOOG) - Get Report

, the timing could not be better as it comes just a couple of days before

Facebook

unveiling of a host of new features at the f8 developers' conference. This is a timely distraction to show users that Google is actively expanding into social. Along with Facebook, Google+ competes in the social networking space with companies such as

LinkedIn

(LNKD)

and

Twitter

as the battle for rapidly growing ad dollars to social media sites intensifies.

We currently have a

price estimate near $600 for Google's stock

, which is roughly 10% above the current market price.

Since its initial launch in June, Google+ had been in the trial phase with the public having access through an "invite only" basis. With the social network being moved to Beta phase, Google+ is now open for all to join. The big question is whether Google can see the same accelerated growth in users that it has seen these three months. By the start of August itself, Google+ had around 25 million users.

It also does not seem a mere coincidence that Google's announcement comes just two days before Facebook's Developers Conference f8. Google is probably hoping to grab some eyeballs away from the f8 where Facebook is expected to reveal a host of new services, including the much-hyped music service.

Interestingly, Facebook has recently incorporated certain changes, some of which look similar to the Google+ layout. For instance users can add subgroups for "Friends" such as "Close Friends," "Acquaintances" and custom groups based on schools or other affiliations. Facebook also looks to be testing the quality, size and positioning of images on the news feed, which was just redesigned this week.See our

complete analysis for Google's stock

Like our charts? Embed them in your own posts using the

Trefis Wordpress Plugin

.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.