FriendFeed aims to be a one stop shop for all your social networking updates and news items. The four founders were all team members at Google and helped to launch such products as Google Maps, Adsense, GMail and Google Groups. They've brought their expertise to a slightly different area: social network aggregating.
FriendFeed is a service which, instead of layering a meta-network on top of all your other social networks, will create a news feed incorporating them all much like the Facebook news feed.
Users tell the feed which networks they belong to (Facebook, Digg, Last.fm etc) and FriendFeed personalizes a data feed with info from each of the sites.
The company was acquired by Facebook in August 2009.