Talking to journalists at the Allen & Co. media conference in Sun Valley, Idaho, chairman of Google Inc Eric Schmidt said that the company is open to more co-operation with social-media giants Facebook and Twitter, and believes there is room for multiple social networks as it is launching its another social media project.

Schmidt noted that Google will cooperate fully with U.S. antitrust regulators but will not let the formal probe launched last month distract or disrupt its strategy.

Schmidt, said it was too early to say how its new social network, Google Plus, was faring -- but one key indication of success is the number of people clamoring to be part of the limited group currently using Plus, which launched in trial mode last week.