When it comes to selling products on the Web, the more consumer reviews a product attracts, the more conversions and sales it sees as a result. This is why PowerReviews has built a social commerce network of more than 23 million reviews across 5,500 sites, including Staples.com, Gap.com, and ToysRUs.com. Today, PowerReviews is announcing the launch of two Facebook products that allow brands and retailers to leverage the social network as a platform for driving sales by making the process of online shopping and product discovery more social.

Autumn is fast approaching — and you know what that means: it’s round about time for an Xbox Dashboard update. Sure, we got a peek of Microsoft’s upcoming harvest back at E3, but the good folks from Redmond invited us to take a closer look at what …

You’ve got 500-something friends, all of about 50 you really interact with. You went to school with Lucy and Henry, you’ve worked with Mike for years, and Joe lives just down the block. Facebook knows all of this — it just doesn’t really go out of its way to show that it knows all of this. Until now.

Sometime recently, Facebook began rolling out “Smart Lists” to select users — which, as the name implies, intelligently groups certain obvious groups of friends into pre-packaged lists. Take that, Google Plus!

Over the past few months, my colleague MG Siegler has been piecing together the puzzle around Facebook’s Project Spartan, which is the social network’s secret plan to bring applications to the mobile web via HTML5. Today, we’ve learned that Facebook has made a key hire in the HTML5 space. We’ve confirmed that the social network has hired Teck Chia, who was the founder and CEO of OpenAppMkt.com, an app store for HTML5 mobile web apps.

Facebook didn’t actually acquire OpenAppMkt, but just hired Chia away. OpenAppMkt has been handed over to a new team and Chia’s no longer involved. For background, OpenAppMkt, which was incubated in Founders Den, launched as a centralized store for HTML5 mobile applications.

Twitter CEO Dick Costolo held a press briefing at Twitter HQ this morning in order to talk about the Twitter’s path moving forward. Costolo indicated how important it was that Twitter  focus if it wants to compete in today’s saturated social ecosystem, “We used to say if you don’t know where you’re going, any road will take you there,” he said, implying that was a bad thing.

Because this reminds me of that time when Facebook unveiled that the Facebook Places logo was, no joke, a “4″ in a square, I’m just going to copy the intro sentence to that post:

On the right is the status and photo update interface for Facebook’s iOS app, updated to a 3.5 version yesterday. On the left is the iOS interface for the current leader in the status update space Twitter. Notice anything interesting?

For the past few months, few things on the web have been hotter than Turntable.fm. The Stickybits pivot got so hot, so fast, that a “trough of disillusionment” was inevitable — and we’ve probably been seeing that the past couple of weeks. But something is coming very shortly that should supercharge the service once again: an iPhone app.

Yes, it was both obvious and inevitable that Turntable.fm would go mobile. But we’ve managed to obtain some details — and most importantly, screenshots.

It’s your mid-year Facebook revenue update; When we last spoke DST and Goldman Sachs’ investment in Facebook has brought to light some interesting revenue numbers, namely that Facebook had a net income of $200 million in 2009, on a revenue of $777 million. While the Goldman documents did not give numbers for all of 2010, analysts and reports held that Facebook’s income for the year could have been as high as $2 billion, with a net income of $600 million.

After adding Netflix CEO Reed Hastings to its board a few months ago, Facebook has added President Bill Clinton’s former White House Chief of Staff Erskine Bowles to its board of directors. We’ve pasted the release below.

Bowles has an extensive history in politics, serving as President Bill Clinton’s Administrator of the Small Business Administration, Deputy Chief of Staff and his White House Chief of Staff from 1996 through 1998. Bowles was also a member of the President’s Cabinet and on both the National Security Council and the National Economic Council.

Download the new Facebook app for iOS and you’ll be able to tag your friends and places, share external links from a web view and bring some improved privacy settings to your iPhone. More &raqu…