I wouldn't be surprised if you are unfamiliar with FriendFeed, as it never really took off in the mainstream. In short, it is a service designed by former Google employees who were involved with projects including Gmail and Google Maps. The service consolidates updates from the social media in real-time and is considered to be an innovative product.
The crew behind FriendFeed is enthusiastic about teaming up with the minds behind Facebook. FriendFeed will continue to operate normally for now, until a long-term plan is established.