And you thought that the world was asleep. It turns out that indeed there is still value in having millions of eyeballs. Friendster is on the way out.
Friendster, according to Reuters has more than 100 million users, will sell for more than 100 million dollars, and was valued at 200+million dollars. Any early investor must feel lucky to sell off the project that failed to take over.
Recall that Friendster came before Facebook, MySpace, Twitter, or Orkut. It was the orignial Facebook, to put it plainly.
The firm is supposed to head to an Asian listed firm, meaning that in an obtuse way, the company will be a public firm, one way or the other,
According to Reuters: “Tencent Holdings (0700.HK), 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 and intellectual property issues, the source said.”
This is an important shift in the online social networking world. Nothing moves faster than the internet, and what was big five years ago is passe today.