Friendster set to sell for £60 million

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friendster logo.jpgSocial network Friendster is set to be sold to an Asian company in a deal rumoured to be worth more than $100 million (circa £60 million) in the near future, according to Reuters.

Founded in 2002, it was one of the earliest popular social networks, and has over 100 million active users.

While it lost ground to Facebook and Myspace in the following years, it sill remains an important network in Asia, which generates most of the site’s traffic.

Speaking of the proposed offer and window in which to close the deal, CEO Richard Kimber told Reuters: “We have a shortlist at this point that we are negotiating with.”

Via: Reuters

Gerald Lynch