Liveblogging the Facebook Developer Conference

2:02 PM: Mark says they haven't completely gotten rid of app boxes, they're added a tab for them. Some apps really need them. Users can also add tabs for individual apps.

1:59 PM: He says the apps that leverage the news feed the best will be the ones that succeed.

1:58 PM: "The most important part of the profile is the wall and the news feed, which have now been merged. They also give developers an incentive to build apps that let users share a lot of information. This is a lot better than an application box, which people don't interact with as much."

1:56 PM: Mark is now talking about the new profile pages and how it fits in with their current goals.

1:54 PM: Mark says that over the last year Facebook hasn't done enough to reward applications that provide a lot of long term value, and they haven't punished the ones abusing the system.

1:53 PM: Mark is talking about lessons Facebook has learned. He says that they released the platform as quickly as possible, it wasn't fully baked yet, and they didn't anticipate the huge adoption.

1:52 PM: Mark says the most powerful tool on Facebook today is the News Feed. Traffic went up by 50% when they first launched news feed in late 2006.

1:51 PM: Mark is now talking about the social graph, a concept he introduced at the first f8 conference.

1:49 PM: LivingSocial just announced they received $5M in Funding, Flixster received $6M from Allen and Company, and Zynga got $29M from Kleiner Perkins Caufield & Byers. Zuckerberg says, "There has been more than $200 million invested in the ecosystem."

1:47 PM: David Glazer (Director of Engineering, Friend Connect) is here in the audience (which is about 1500 people), it looks like he will announce something. Perhaps they are announcing some kind of agreement.

1:45 PM: "We're opening up the translation tool to allow apps to be translated as well¿We now have more than 400k developers building on top of the platform. The developer community is spread around the world. More than half are outside of the US.

1:43 PM: Mark is now talking about opening up Facebook for translations made by users. They started with Spanish and French, and now the site is available in over 60 languages.

1:41 PM: Mark is looking back over the last year and says it's been pretty crazy. Over 24 million people were using Facebook a year ago - today they are at 90 million people.

1:38 PM: Mark says its time to take the Facebook platform to the next level. On a recent vacation he realized (1) they want to build a product that really lets you connect with people, and (2) they want to extend the concept of presence, have more open connections and share more. They want to make the world a more open place

"The most important information is only available if people share it, and have the power and the tools to do so"

1:35 PM: Mark takes the stage and welcomes the crowd.

1:30 PM: Still waiting for Mark Zuckerberg to take the stage.