There's no doubt that Facebook is a huge online social destination where people can meet up with their friends both old and new. Now the founder of Facebook, Mark Zuckerberg, has been name Time Magazine's Person Of The Year.

"For connecting more than half a billion people and mapping the social relations among them; for creating a new system of exchanging information; and for changing how we all live our lives, Mark Elliot Zuckerberg is TIME's 2010 Person of the Year."

Read more at The Time Website: