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Venture Capital
by tj on November 18, 2005
"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's was supposedly valued close to $ 60 million in 2003. So $100 million would be a good deal.
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."
Be sure to check our revamped Social Networking Weblog for more coverage (Robyn also gave me this hint).
Permalink: Friendster for sale
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/11231
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Vote for Friendster for sale:
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Rating: 7.25 out of 4 vote(s) cast.
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Response from:
Aika
(04/30/06 10:21pm)
Who's friendster's owner, if I may ask?
Response from:
TJ
(05/08/06 3:26pm)
Aika,
I guess the management and the first round investors hold most of Friendsters stock.
TJ
I guess the management and the first round investors hold most of Friendsters stock.
TJ
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