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Malaysian Payments Company MOL Global Snaps Up Friendster
We heard reports that Friendster was going to shopping itself to an Asian technology company but tonight, the news was released that MOL Global, a Malaysian payments company, has purchased social network Friendster. The full press release is below. The terms of the acquisition were not disclosed but we’ve heard that the purchase price is around $100 million.
Friendster, which was founded in 2001, has raised over $45 million in venture capital to date, and is sitting on some potentially lucrative IP. The acquisition makes sense because while Friendster is no longer hot in the U.S., it’s most definitely still has members in the Asia/Pacific region.
The social network, which just rolled out a much-needed redesign, appointed Richard Kimber as its new CEO, who used to head Sales and Operations in South East Asia for Google.
MOL Global and Friendster already had a partnership power the payments ecosystem of the Friendster Wallet and its payments platform.
MOL Retail and Payment Channels and Leading Online Social Network Combine to Form Massive Content Distribution and E-commerce Platform in Asia for Over 100 Million Users
More here: Malaysian Payments Company MOL Global Snaps Up Friendster
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We heard reports that Friendster was going to shopping itself to an Asian technology company but tonight, the news was released that MOL Global, a Malaysian payments company, has purchased social network Friendster. The full press release is below. The terms of the acquisition were not disclosed but we’ve heard that the purchase price is around $100 million.
Friendster, which was founded in 2001, has raised over $45 million in venture capital to date, and is sitting on some potentially lucrative IP. The acquisition makes sense because while Friendster is no longer hot in the U.S., it’s most definitely still has members in the Asia/Pacific region.
The social network, which just rolled out a much-needed redesign, appointed Richard Kimber as its new CEO, who used to head Sales and Operations in South East Asia for Google.
MOL Global and Friendster already had a partnership power the payments ecosystem of the Friendster Wallet and its payments platform.
MOL Retail and Payment Channels and Leading Online Social Network Combine to Form Massive Content Distribution and E-commerce Platform in Asia for Over 100 Million Users
More here: Malaysian Payments Company MOL Global Snaps Up Friendster
