About a week ago Friendster re-branded themselves and was rumored to be for sale. Malaysian company MOL Global has bought out Friendster.com, the social network a majority of us used before Facebook was introduced. Friendster’s biggest downfall was when they hit a scaling wall. Friendster really started slowing down at one point causing their users to move on to the next big thing faster than they expected. At least that is the reason why I switched.

The acquisition price was not disclosed, but it is rumored to have sold for about $100 million. The company raised about $45 million in funding since they started. Not a bad return for investors. Friendster launched in 2001. Below is the full press release.