Yes!, Its True, Micromirecle's First Social networking builder "Flap" is launching soon.

Flap is developed by Team Micromirecle and Powered by Micromirecle Corp.

but its not an open source but this is not a big problem because  The Price of Flap is only 2.5$  and its not too much as social Networking script.

 

In Market, There are many Social networking scripts are available as paid and also for free but they are not totally free, for example some script are free but their plugins are not available for free but Flap is totally a revolutionary Social Networking script, its only require one time payment. Its is very easy to use with inbuilt Admin panel. The Best thing about Flap is Its a Phoenix based Script that means Flap doesn't require any dedicated server it can run on any server ... Read more »