I use social networking to stay in touch with my friends and family, and mostly to share pictures. Your logo looks nice but the colours are fairly bright.
I share my website's posts on it's page, read some funny posts and see some funny images from other pages!
I use it to build relationships with clients and to develop authority in my niche, as well as keeping in contact with friends and gamily
personally -> chat with people, sometimes reconnect with old acquaintances, stay up-to-date with my friends activity professionally -> make money
This is pretty much exactly what I do, along with having conversations and building relationships with people.
Using social media is my all time fun corner apart from that I also use this for business purposes. I share my thoughts, feelings, pics and videos. I chat with friends and also play games sometime. It is also a good platform to redirect traffic to any website as well as to initially promote a new website.
Social media sites can be used for different purposes, it will depend on a person that for what they want to use social media sites. Like you can say that most of the business men are using social media sites to promote their business and products. Students use it share their thoughts,ideas and images, they also use it for fun, to communicate or increase their relationship with different communities and group. In these way I think you can use social media for many purposes.