Tag Archives: MOL Global Pte. Ltd.
Friendster Erasing All Photos, Blogs, Testimonials, Groups, Etc. On May 31
Friendster was the social network that everyone was talking about before Facebook was around. Friendster raised $50 million in venture capital and gained tens of millions of users. Eventually Malaysian payments company MOL Global acquired Friendster in 2009 for $40 million. Now Friendster is removing all photos, blog posts, comments, testimonials, shout-outs, etc. from the social network. You can download or export your data using the Friendster Exporter App. After May 31st, Friendster is going to re-launch as an entertainment portal. [TechCrunch]
Categories Friendster, MOL Global Pte. Ltd.
Leave a comment
MOL Buys A Social Network [FRIENDSTER SOLD!]
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.