The social networking site snagged its 500 millionth user , according to Facebook Inc. CEO Mark Zuckerberg, who announced the news in a blog post.

The site, which launched in 2004, has gained around 100 million new users in the last six months. The UK currently has around 26m Facebook users.

"As of this morning, 500 million people all around the world are actively using Facebook to stay connected with their friends and the people around them," Zuckerberg wrote in his blog. "This is an important milestone for all of you who have helped spread Facebook around the world. Now a lot more people have the opportunity to stay connected with the people they care about."

 Facebook launched a new application called Facebook Stories. The app is designed to help users share their stories about Facebook.

BDST: 1405 HRS, 22 July 2010