Insoshi, built on Ruby with Rails, is a neat sounding new addition to both the open source and social networking worlds.

Insoshi is a product and a project. The product aims to be the best open-source social networking platform. The project is to make the product!

Since Insoshi is open source, you can download the code from our GitHub repository and make your own social network. Then stay in touch by joining the Insoshi developer site—which is powered by Insoshi!

Features include:

• Activity feeds
• Profiles with photos and comment walls
• Connections/friending
• Discussion forums
• Blogs with comments
• Messaging, including read/replied/trashed
• Search for profiles, forums, and messages
• Admin panel with site preferences

This is well worth keeping an eye on. Thanks to TechCrunch for pointing it out.