Is Friendster up for Sale?
Tuesday, 22. November 2005 - 4:45 pm
CNET — Nov 14 — Friendsterhas hired a banker (Montgomery & Co., a boutique investment banking
firm in Santa Monica) 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.
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. From September 2003 to March
2004–during the height of Friendster's popularity–it drew more than 1
million unique visitors per month, according to Nielsen. Since
then, Friendster's traffic has fallen to roughly half that. The site
has roughly 21 million members. FULL ARTICLE @ CNET
Mark Brooks: Hopefully, if Friendstersells, it will sell for $100 million or more. $50 million seems
awfully low given that it was valued at over $30 million for it's first
VC round. It's still a very considerable internet property and
holds a lot of promise.