This could be really cool: Ning - Create your own Social Websites!
 Ning gives you the platform and tools to create your own video, photo or group site which you can make public or private. You also get access to the source code which apparently is 100% customisable. It makes its money through ads and premium services (like $20/month to run your own ads which I think is a LITTLE steep). A pro for some and a con for others is that the web applications are hosted on their servers. I think it would be cooler if they did a Movable Type and sold licences to use it on your own server.

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