Online networking for the business crowd may already be dominated by LinkedIn—but that hasn’t stopped Talkbiznow, a new business social net, for setting itself the ambitious goal of amassing 3 million users within six months by offering users more in-depth features than its competitors. For example, users will be able to set up online conferences, chat instantly with contacts, and share documents with one another. There will also be the ability to “compose and send adverts” to contacts—(though surely, this is a potential turn off, not a feature?)

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The Guardian.co.uk asks, however, if Talkbiznow, which has offices in London and San Francisco, is too late to the party. The company has already scored two rounds of funding, and is in the process of closing a third for $25 million (£13.4 million), but put next to LinkedIn’s recent billion-dollar valuation in its June funding round that raised $53 million, as well as its 25 million-user base, it certainly looks like a tough challenge.

Meanwhile, Germany’s XING won’t make things easy in Europe, where the company has most of its user base of 5.7 million users, as of May, more than even LinkedIn, though the network recently claimed it was adding 1.3 million users a month there. The company has also been on a buying spree, having snapped up three social business nets in the last 18 months. It says it can spend a further 40 million euros (£31.9 million) on more acquisitions, including in China and the US, as well as its traditional base of Europe.