There’s been plenty of controversy about Twitter being valued at the $1 billion mark, but the fact that the company may even potentially be worth that much has motivated local entrepreneurs to look to the future of social networking. Under the guidance of 29-year old Kareem Arafat, Watwet has emerged as a potential goldmine in Arabic-language social media since its launch in 2008.

The Twitter-like social networking site, originally founded in Jordan, is currently expanding in the UAE through localizing its SMS feature. Recently, the company signed a deal with one of the UAE telecom operators to implement the service updates, and the company’s CEO has said they are looking to link with the other operator as well. Watwet has yet to reveal more information on the partnerships.

Watwet’s key service, aside from its default Arabic interface, allows users to update their pages by sending messages to a four-digit number. Serving users in Jordan Egypt, Lebanon, Saudi Arabia, and the UAE, in July 2009 the company had roughly 25,000 users, approximately double the amount regional users that are currently on Twitter.

From product launches to event management, the marketing potential for the service is both profound and unique.  Don’t be the last to come aboard.