Wbcom Designs offers multiple maintenance packages for your WordPress powered website. These packages assure your website stays protected with updates, backups, and a support staff that truly understands WordPress, WordPress Multisite and BuddyPress.
There are activity streams or Status Updates (just like Facebook). Other users can reply to someone else’s updates. They can make Groups, Forums and Blogs. And with plugins, you can take it to any level you choose to.
I am trying to use BuddyPress to build a social network for my class mates, now that I am graduating this year. (Details on the project and link later, stay tuned).