Yes, as the name suggests, it is something like an online card of your own.
And guess what, It is absolutely free.
This is becoming much popular these days as this connects all your social network accounts plus your blogging accounts of wordpress, blogger , etc and skype too with a personal web address.
The page gets a plus point as one can select a background image for the web page of his/her own.
Yes, a webpage of your own. :D
So, Next time if anyone asks you for your ID or Information, just give him a simple link.
Below, You can find out my ABOUT.ME page embedded.