BuddyPress.org

@mrvon

Uninstall your copy of WordPress and install a new copy of WordPress MU (Multi-User).

WordPress MU allows each member to have his own blog. You need to set up blog domains first, though. For more instructions on setting up multiple blogs, read the WordPress MU readme.

BuddyPress will automatically set this up for you if it detects that you have WordPress MU installed.