With a plethora of social networks at our fingertips, it is not always easy to divert attention to Facebook, Twitter, Foursquare and Instagram all at once. However, a new service promises to bring all of your social networking activity into one visual timeline with Tuesday’s public launch of Memolane.

The service will contextualize all of your photos, videos, music, tweets, check-ins, Facebook Events and status updates (each of which are called “memos” for the sake of convenience) in an ever-changing timeline (or “Lane”). It may take a few minutes for all of your content to be indexed, but the wait is worth it as Memolane creates a “Time Machine for the Web” — catchy slogan, that.

What have I learned from a quick view of my Lane? Well, that around every other one of my status updates includes a curse word, meaning that it took a while before I could find a usable screenshot.

Other services which Memolane can index at present are flickr, Picasa, last.fm, Myspace, Spotify (via last.fm scrobbling), Tripit, YouTube, Vimeo and any RSS feeds you might follow. Each Lane is also easily searchable, meaning that you can hunt down any content related to a specific period of time — if you posted photos on Flickr, created a Facebook Event, scrobbled what you were listening to and tweeted your way through a vacation to Vienna, for instance, all of this content would be grouped together. This mirrors the functions of social search engines such as Greplin, but in a much more stylized, easy-to-digest way. You will also be able to invite your friends to contribute photos and other memos to a particular event you are attending together to ensure that the moment is captured for posterity.

Memolane has taken steps to ensure a user’s privacy concerns are satisfied. When adding a service — let’s say Facebook — you will be asked to link your account. Once you have, you’ll be presented with a series of privacy settings before you can continue the setup process. Choosing “Public” means that all of your Facebook memos will be visible to everyone who visits your Memolane profile, selecting “Friends Only” means that only your Memolane friends can see your memos and clicking “Private” means that only you will be able to see your Facebook memos on Memolane. If you choose to do so, you can share memos from the past through a variety of social networks.

Memolane was originally created at a hackathon event in Copenhagen last April. The founders received $2 million in venture capital in September and the team has been working hard to get the site ready for launch. I’m very impressed by Memolane so far. It certainly looks pretty and is more practical than GRID, a photo-sharing visualization service we featured previously. What do you think of Memolane?