Facebook is completely rewriting their messaging product and is preparing to launch a fully featured webmail product in its place, according to a source with knowledge of the product. Internally it’s known as Project Titan. Or, unofficially and perhaps over-enthusiastically, the Gmail killer.
More details here: http://www.techcrunch.com/2010/02/05/facebooks-project-titan-a-full-featured-webmail-product/
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