Online social networking pioneer Friendster is sold and has accepted a buyout from Malaysia-based MOL Global and it is reported that the site would shift into e-commerce. Friendster, which made its debut in 2002, once was pictured to be the best that happened in the world wide web before its popularity was challenged by the emergence of mighty competitors like Myspace and now Facebook. Its users are now mostly in Asia.
With over 75 million registered users, Friendster said 90 percent of its daily traffic comes from Asia, while MOL has over 500,000 physical and virtual channels in 75 countries to collect payment for content and services.
Under the new deal, the California-based Friendster will be fully acquired by MOL Global, an affiliate of online payment firm MOL Access Portal which is controlled by Malaysian tycoon Vincent Tan, they said in a statement.
Friendster chief executive Richard Kimber said that the new combined entity gives Friendster the kind of financial backing, retail distribution, and e-commerce infrastructure that will enable us to accelerate our strategy
Would this be goodbye to the Friendster Online social networking community site that we know and hello to another innovation?
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