, which stands for Where Are You Now?, will have a radically restructured design that allows users to share their future plans and aspirations in small posts, similar to that on micro-blogging site .
Peter Ward, Wayn co-creator, told the Telegraph.co.uk: "The idea is that you can effectively plan what you are up for doing in the future.
"So you can talk about what you are doing this evening or that you are up for going snow boarding or up for learning a language.
"It will be a micro blogging platform like Twitter, but it's not about what you are doing now.
"From a social networking paradigm, if you know that one of your friends is up for going to Brazil in July, you might want to join them, give them tips or put them in touch with friends.
"There's a lot more reason for engagement."
Wayn's new site will also feature Facebook Connect log-ins, which will allow users to connect their profile with their Wayn profile.
Other changes planned as part of the site's restructure include a repositioning of the commercial model for advertisers.
Wayn, which has a total of over 15m members, with about 8m of these active each month, intends to add a behavioural advertising system that will allow businesses to target users based on the "plans" that they write on the site.
Jerome Touze, co-founder of Wayn, said: "At the moment we don't collect keyword information from our members.
"But if we know what people are intending to do in the future that provides a lot more value to advertisers who could meet that need."
The company is also planning to open an API system for third party widgets.
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