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Friendster shuts down social network
It’s the end of an era for social networking: Friendster, the site which started the phenomenon, has announced that it is to close down due to low user figures.
The site will officially close down on 31st May after losing the battle against Facebook and Twitter.
Friendster was started by Jonathan Abrams, a computer programmer, and friend Peter Chin in 2002. Legend has it that the pair started the site as a way to meet women after Jonathan’s failed romance, although the official line is that it was founded to create a safer, more effective environment for meeting new people by browsing user profiles and connecting to friends, allowing members to expand their network more quickly than in real life, face-to-face scenarios.
The site was launched in a blaze of glory and was founded with a $12 million investment by Kleiner Perkins Caulfield & Byers, Benchmark Capital and private investors.
The management received a $30 million buyout offer from Google just months later, which they declined.
In 2009 Friendster.com was bought by Malaysian internet firm MOL Global for a reported $40 million (£25 million). This reflects the fact that Friendster only really retained its popularity in Asia: more than 90% of its 19 billion page views come from the continent, with most of its users residing in the Philippines, Indonesia and Malaysia.
The company has now been bought by Money Online, a Philippine-based company. The new bosses plan to convert Friendster into an online gaming site marketed towards Facebook users.