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ASIA: Malaysia MOL buys Friendster


Hardly any surprises here – I’ve covered the popularity of Friendster in Asia in my Social Media podcasts, and the sophistication of the Malaysian social network industry in blog posts:

Friendster, the social network which set things off more than half a decade ago has finally been sold after several attempts in the past years. As expected, the social network was snatched up by an Asian company, MOL Global, a Malaysian e-commerce and payments company for an unreported sum which some put at about $100 million. MOL FriendsterGlobal will take over 100 percent ownership of Friendster and hopes to bolster the social network’s position in the Asia-Pacific region where it’s a very strong player dominating the market.

I’m pretty sure they launched a virtual goods store the other day?

Friendster and MOL Global (CEO: Ganesh Kumar Bangah) already work together and Friendster Wallet, the social network’s virtual currency system is powered by the payments company’s technology. The two are now expected to take that partnership even further with payments becoming an integral part of the social network. Friendster has raised $45 million in investments so far though it was valued a lot more than what it got now at some point. It also holds several social networking patents which could mean an extra revenue source for the company. The site also got a major redesign recently with a clear focus on its new core audience in the Asia-Pacific region.

From softpedia

Laurel Papworth

Named by Forbes™ Magazine in the Top 50 Social Media Influencers globally, named Head of Industry, Social Media (Marketing Magazine™) and in the Power150 Media bloggers (AdAge™). CERT IV Training and Assessment certified trainer (Diplomas and Certificates etc) Adult Education. Laurel has manager Facebook Pages for Junior Masterchef, Idol, Big Brother etc. and have consulted on private online communities for banks Westpac, not for profits UNHCR & governments in SE Asia. Lecturer, social media, University of Sydney for 10 years and Laurel has 11,000 online students. Laurel Papworth personally connects to 6 million followers online and has taught around 100,000 people in the last 10 years how to be social media managers.

13 thoughts on “ASIA: Malaysia MOL buys Friendster

  1. ASIA: Malaysia MOL buys Friendster:

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  2. Ahh..I see. Last week I was wondering why friendster have new design in their website.
    I was a member of friendster for 2 years and recently i’m not contented of their services, i’m a facebook fanatic now.

  3. wow great i have read many articles about this topic and everytime i learn something new i dont think it will ever stop always new info , Thanks for all of your hard work!

  4. I’m curious to find out what blog system you happen to be working with? I’m having some minor security problems with my latest site and I would like to find something more risk-free. Do you have any suggestions?

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