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It was quietly launched on January 22, 2004 by search engine company Google. The service was created by Orkut Buyukkokten in the 20% of his time that Google encourages employees to spend on their own projects. This service is similar to Friendster, another so-called social networking space.
Someone who spends altogether too much time building their network on Orkut is sometimes called an Orslut or a Whorkut.
Their terms of service are quite confiscative, and go even beyond what's normally possible with copyrights: