849 million reasons why Bebo was a mistake for AOL

Bebo co-founder and mega-millionaire Michael Birch today re-acquired the brand and the network for a million dollars. Like dance clubs, these faded (and forgotten) social network marquees are a rude reminder that social web is about people and people - especially young people are fickle.…

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Handicapping Facebook’s Next Billion-Dollar Business(es)

Amidst reports that it was having trouble unloading $1 billion worth of shares at a very rich valuation, Facebook last week started testing its first home-grown social commerce product, Facebook Deals. Already facing stiff competition from Groupon and LivingSocial, will Deals be Facebook’s next billion-dollar business? Competitors, marketers and developers hoping to leverage the Facebook platform need to figure out how Facebook will continue to grow.…

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Facebook Buys Friendster Patents for $40M

Facebook bought the entire Friendster portfolio of social networking patents earlier this year. The company bought the patents from Friendster acquirer MOL in a deal that included advertising,a partnership for payments for virtual goods and cash, and was valued at $40 million.…

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Mol Global Buddies Up With Friendster

Friendster’s long startup saga is over: Malaysian payment company Mol Global has agreed to buy it for an undisclosed amount. Mol recently became the payments provider for the social networking site, which claims 115 million users and reportedly sees 90 percent of its traffic from Asia.…

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$100M for Friendster After All These Years?

Friendster has managed to survive as an independent company for seven years, but a sale of the social network to a buyer from Asia (where the site has become quite popular, especially in the Philippines) is imminent, according to a report by Reuters. The company is expected to be sold for more than $100 million by the end of the month, which frankly isn't all that bad of a return after years of technical problems, last-ditch strategies and management changes.…

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