Posts tagged internet

Friendster the ultimate prehistoric internet social networking website, which predates Facebook and MySpace in the social networking space was founded in 2002. But it quickly lost ground to other social networking sites in the United States. Friendster is now mostly used in Asia where more than half of its registered 100 million users are from.

Friendster will be sold to an Asian company that do not wish to be identified as the information inst actually yet public! But how bigger risk are they taking by spending all this money? It is estimated to be sold for more than $100 million in a deal set to be announced by the end of the month.

TechCrunch, an industry blog, said in July it valued Friendster at $210 million, a small proportion of Facebook’s estimated $10 billion valuation.

Friendster, like Facebook, has been struggling to find an effective monetisation strategy. The firm rebranded its main website on Friday targeting a younger audience! China’s largest Internet firm by market value at $35 billion, was among the short-listed bidders, while Facebook also showed interest but was turned down due to competition. Friendster holds five U.S. patents related to social networking according to the United States Patents and Trademarks Office.