When it comes to create a social networking site with WordPress the choices are really narrow. The best of all and the most used one is BuddyPress which we also use in our members section.
We have just launched our new web site and full network.
Ultimatum Parallax is a one page template and it has some extra features like custom coded CSS3 effected post types, smooth scroll menu etc.
With this child theme we are trying to show how easy to create a one page site by using Ultimatum Theme.
Fellows at WooCommerce have just recently released a major update and they as always did a great job. This however needed some action to be taken by theme and framework developers as they had many changes in code as well.