Friendster’s Sale Could Come Very Soon, CEO Says

Friendster

Social network Friendster put itself on the block this summer, and now it appears that the company could be sold by the end of December. CEO Richard Kimber told Reuters the company was currently negotiating with a “shortlist” of potential buyers, but a source told the pub that the deal is almost done.

*Reuters* pegs the sale price as “more than $100 million”, which sounds extremely high considering the company’s fortunes over the years. No specifics on the suitor, other than the fact that it will be an Asian company — since that’s where Friendster still has an avid user base — and the company spent money staffing up offices in Singapore and Sydney earlier this year. Chinese digital media company Tencent (owned by South African Media giant Naspers, which in turn owns a bunch of communication and IM platforms in Asia and eastern Europe) and Facebook were cited as interested parties early on. Rafat adds: Some of the names floated on the PE side included Softbank, and Oak Pacific (heavily invested in China).

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