Samsung denies rumor regarding Facebook like social network

Samsung has officially denied rumors regarding a Facebook like social network. Apparently, over the last few days, there were some stories regarding Samsung building a Facebook competitor, which was internally called the Samsung Facebook, but today the company denied these rumors and called them ‘groundless’.
Having said that, the company did mention that it has a platform for family oriented convergence called Family story and it does intend to build on these service further and also said that it would upgrade it.