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techcrunch.com - 7/27/2009

Exclusive: Friendster Shopping Itself Around In Asia

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Friendster , one of the oldest social networks, is actively looking for a buyer and has hired investment bank Morgan Stanley to find a party interested in acquiring the company or at least some of its assets. According to documents obtained exclusively by TechCrunch, it looks like Morgan ...

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Friendster Puts Itself Up For Sale
paidContent — Friendster, the long-time U.S. social network which now has its biggest presence in Asia, has reportedly put itself up for sale there. The company has hired Morgan Stanley to manage the process, according to documents published by TechCrunch. Possible buyers could include big Asian telecom companies, because of Friendster’s big mobile presence. Friendster has expanded aggressively in Asia recently. The company raised $20 million in a round last August, which it said it would use in part to build up its presence there. It opened up offices in Singapore and Sydney, Australia this year, where new CEO Richard Kimber is based. Friendster also said earlier this year that 80 percent of its new employees would be based in the Asia-Pacific region. Of ...

Friendster Puts Itself Up For Sale
mocoNews — Friendster, the long-time U.S. social network which now has its biggest presence in Southeast Asia, has reportedly put itself up for sale there. The company has hired Morgan Stanley to manage the process, according to documents published by TechCrunch. Possible buyers could include Asian telecom companies, because of the social network’s big mobile presence. We’ve reached out to Friendster and will update if we hear back. Friendster has expanded aggressively in Southeast Asia recently. The company raised $20 million in a round last August, which it said it would use in part to further build up its presence there, where 75 percent of its registered users now live. It’s the top social network in the Philippines, Indonesia, Malaysia, and Singapore. But it ...

Any port in a storm: Social network Friendster up for sale
VentureBeat — ... is up for sale, according to banker documents obtained by TechCrunch. One of the earliest social networks, the company has been haunted by younger rival MySpace, which became more popular in the US earlier this decade. It’s not MySpace, though, that has followed Friendster across the Pacific to countries like the Philippines and Indonesia, where it has until recently most popular. Facebook appears to be gaining ground. ...

Google Sells Its AOL Stake Back to Time Warner
ClickZ News Blog — What ClickZ's editors are reading: Google Sells Its AOL Stake Back to Time Warner (WSJ) The $283 million transaction was processed earlier this month, consolidating full ownership of AOL under time Time Warner in preparation for a spin-off later this year. Mom Bloggers Debate Ethics Of 'Blog-Ola' (NPR) Friendster Shopping Itself Around In Asia (TechCrunch)

Facebook Gains More Ground in Southeast Asia
Inside Facebook — Over a month ago, word leaked out that Asian market leader Friendster was up for sale. At the time, Facebook appeared to be seeing meaningful growth across Friendster’s core markets of Singapore, Indonesia, Malaysia and the Philippines, even as Friendster’s traffic leveled out or dropped off. This observation came from Google Trends during one look we took, and from both Google Trends and Alexa in others, as well as some interesting anecdotes we’ve heard about. Today, we have more from our own Global Monitor report, in which we analyzed raw data provided by Facebook about its users. In the above four countries, along with other areas including Hong Kong, Taiwan and Thailand, Facebook has seen significant gains in recent months; in most cases, ...