Higher education institutions are working to develop increasingly blended learning spaces offered by developments in social networking environments. This research sought to gain an insight into the use and value of Facebook as a learning tool and discover how we might develop a better 'fit' between learning and teaching by understanding the educational experiences of students within the Facebook online environment. The Facebook group „MarketNet‟ was developed and students were invited to voluntarily participate. Initially, participants tended to use the Facebook group as an extension of their course Learning Management System. However, as alumni and staff began to participate, this use has changed to become less formal, utilise more of the social functionality commonly associated with Facebook interactions, and move away from traditional student question and answer conversations towards greater community participation.