There is watwet.com (a twitter clone) which apparently has more users in this region than twitter. Then as mahmud mentioned, souq.com and cashu both from maktoob group (not part of this yahoo acquisition).
As I said I am quite new here and quite out of personal touch in the tech scene here, so I am myself looking out for people to connect with. You can follow <a href="http://www.arabcrunch.com>arabcrunch.com</a>; for more startups from this region. This deal is also heavily covered there.