Asian Buyer Pay $100 Million To Buy Friendster

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Friendster1 Asian Buyer Pay $100 Million To Buy Friendster Few years’ back Google offered $30 Million in the desire of buying Friendster, but then the deal was not worth. Now the social networking pioneer ill reportedly be sold to a buyer in Asia by the end of the month for somewhere around $100 million.

Friendster chief executive Richard Kimber told Reuters -

The majority of suitors for the firm were Asian buyers. “We have a shortlist at this point that we are negotiating with,” Kimber said. Morgan Stanley has been hired to handle the deal, Kimber said. Tencent Holdings (0700.HK), China’s largest Internet firm by market value at $35 billion, was among the short-listed bidders, while Facebook also showed interest but was turned down due to competition and intellectual property issues.

One of the reasons for the sale of Friendster is that it lost ground when other social networking sites appeared such as MySpace and Facebook and now Friendster is mostly used in Asia with about 100 million registered accounts.

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