Friendster up for sale?

From hoop’s blog, is the popular social networking site which every online (well almost) Filipino love, looking for a buyer?

The San Francisco-based company has hired Montgomery & Co., a boutique investment banking firm in Santa Monica, Calif., to find a buyer, CNET News.com has learned. Company executives have been talking to several Internet media companies about an acquisition, according to those sources.

Friendster spokesman Jeff Roberto declined to comment for this story. A spokeswoman from Montgomery said the company could not confirm nor deny whether Friendster is a client.

Earlier this year, Friendster was shopping for a buyer, and according to one source, it was looking for a sale price in the ballpark of $200 million. Now its price has been lowered to the range of $50 million to $100 million, the source said…

… Friendster recently reconfigured itself as more of a dating or personals site, and it has added features like blogs and photo sharing. According to its Web page, the site has roughly 21 million members.

Just like pancakes — sell it while it’s hot! With all that uncontrollable porn pictures and dating/escort requests, they’re better off selling it.

Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

https://www.yugatech.com

6 Comments

Carol says:

18 years ago

This is really news to me. I’ve heard Friendster from kids that visit my internet cafe in Marikina but I never thought it’s that widely used by Filipinos.

Carol
- Reply
AJ says:

19 years ago

Migs,

You can visit us at Pusit.com Inc. 8735 Paseo de Roxas cor Makati Ave if you want to meet the team. I’ll gladly introduce you to our country manager.

BTW, your former colleague Ross is with us.

The answers to your questions are:
1) Yes there’s Friendster Philippines as Pusit.com Inc.
2) Yes, the address is already stated above.
- Reply
phtv says:

19 years ago

i think good buy yan. kung may pera lang ko, bibilhin ko yan. hehehe
- Reply
DJB says:

19 years ago

OFF TOPIC but glad to see the Web won’t fall into the hands of bureaucrats in Brussels.
ICANN for now
- Reply
Migs says:

19 years ago

This I want to know: is there or is there not a Friendster Philippines corporation? When they bought pusit.com, was it a corporate entity or just a website?
- Reply