Mark Zuckerberg, founder and chief executive of The Facebook social networking site that has more than half a billion users, was named Time magazine's 2010 Person of the Year on Wednesday, Reuters reports. Time defines the Person of the Year as the person who, for better or for worse, does the most to influence the events of the year.

"This year they passed 500 million users. ... The scale of Facebook is something that is transforming our lives. One in 10 people on the planet, and it's excluded in China where one in five people on the planet live," Time editor...

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