Google launched a social networking tool today, taking on the same market as Twitter, called Buzz. Google Buzz can be described social networking service also integrating your other social network updates into its own wing, built right into Gmail and the entire Google ecosystem.

Buzz has four notable features, including:

• A friend list created automatically based on the people you email the most often from Gmail.
• Other social networks and media sharing sites, such as Flickr, Twitter, and Picasa are combined with file sharing for status updates.
• Private or public sharing (equivalent of Twitter and email, respectively).
• A recommended buzz, similar to when you see tweets retweeted by your followers on Twitter.

One thing not left out were cellphones. Buzz is also designed to work with the iPhone and Android browsers, so you can “buzz on the go”. Buzz can also change your stream to places around you like restaurants, businesses, among others using your current locations, which you can manually update (with location-aware disabled iPhones) or find automatically.

Google Buzz will slowly roll out to Gmail users, so don’t expect to use it right away.