Manhattan, N.Y. —, a social networking service designed for preserving family memories, launched Tuesday as an independent subsidiary of Barry Diller’s IAC/InterActiveCorp. The service enables people to commemorate and share their life stories with those closest to them.

“Today, every living generation is online,” said Tom Cortese, co-founder and CEO of Proust. “The web is now ready to be used to capture our most important moments and meaningful memories, not just frivolous status updates.”

Unlike other social networking sites, Proust offers its users a journal-like service where people can dig deeper into the information they want to share, and choose who they want to share the information with.

Cortese said features like the Proust storybook, timeline and map make it possible to capture what makes every individual unique, and then preserve it to be treasured for generations to come. Rather than leaving current and future family members à la recherche du temps perdu, Proust wants to help put all of these memories in one organized place.

Incorporated in Feb. 2010, the company is home to six employees. Cortese said IAC plans to allow the company to grow on its own without the need for advertisements.

Related Links: (AllThingsD) (GigaOm)