Home › DMW Daily › July 27, 2009

Report: Friendster for Sale, Seeking Suitors in Asia

Authored by Mark Hefflinger on July 27, 2009 - 7:27am.
Palo Alto, Calif. - Online social network Friendster has hired Morgan Stanley to help it seek a buyer for the company, or at least some of its assets, according to a report from TechCrunch. Documents obtained by TechCrunch indicate that Friendster is courting potential suitors in Asia, were 75% of its 100 million registered members reside.

The company claims to be attracting 100,000 new users and 500 million page views daily, although U.S. users fell 45% year-over-year in May, to 21 million.

The documents hint that Friendster will seek to add virtual goods, games, dating, music and classifieds in a bid to generate additional revenue.

The company has to date raised a total of around $45 million in venture capital.

 

Related Links:
http://snipurl.com/o2ofh (TechCrunch)

http://www.friendster.com

Published in DMW Daily, July 27, 2009
tags: Deals | Social Networking | Friendster | Acquisitions | Morgan Stanley |



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