Social networking is a booming business and it seems that Microsoft is also preparing to announce its entry into the field. On Thursday, the software giant published prototype designs of a new social-networking site, called Tulalip, but then quickly took it down.

Published to the URL Socl.com, Microsoft’s potential social-networking site read, "With Tulalip you can find what you need and share what you know easier than ever.”

After taking down the website, Microsoft apologized it was an internal design project, and the research was mistakenly published on the web.

News about Microsoft’s Tulalip emerged following the recent launch of Google’s new social-networking site, called Google Plus, which allows users to post and share comments, messages and pictures online.
 
Analysts also believe that any potential social-networking site from Microsoft will try to rival Google Plus, rather than Facebook as Microsoft's search engine Bing and Facebook have enjoyed a long, mutually beneficial affiliation.

In May, Microsoft strengthened its relationship with Facebook by adding Facebook "Like" buttons to its Bing search engine. In addition, Facebook appears all over Microsoft's new mobile operating software build, called "Mango."

Facebook is currently the world’s leading social networking platform, with as many as 750 million users.