Aaron Greenspan, a Harvard schoolmate of Mark Zuckerberg, has launched CommonRoom, a direct competitor to social networking giant Facebook. CommonRoom provides quite a few useful features that are missing from Facebook, including course planning, resume posting, textbook transactions, multiple profiles, and more.

The company behind the service is Think Computer, founded by Aaron at the age of 15 from his bedroom in Shaker Heights, Ohio.

The service is invitation only, and presents a very sparse homepage, similar to how Facebook has been since its launch. It currently serves 958 members at 103 universities. I can definitely see this website becoming a worthy adversary to Facebook, but it might not be possible anymore given how packed the social networking market is already. With so many networks already relatively popular and fighting to grow, does a brand new network still stand a chance?