It's called About.Me and you can check it out by clicking the ME button over there on top of the left sidebar. I think what I like about it is that it's so uncomplicated. Big background photo, bio, links, and linked screen captures of all the other MEs who like your page and whose pages you like for whatever reason. I admit I kind of wish it could be customized a little more, but they may get around to that in time. Its purpose? It's a place for people who don't want to be bothered with the labor, knowledge, and expense of either building their own site, or contracting a web developer.
We'll see what happens with About.Me. I like getting in on the ground floor of things like this if only to witness either their success or their demise. I remember BBS, Qlink, AOL, Prodigy, Compuserve and MySpace. I can't remember the names of all the SNs I've tried. Will About,Me make it? I don't know. These days, people look for the next Facebook like people in the Seventies looked for the next Beatles. I don't think About.Me is it, but it seems to be gaining popularity very quickly.