Vincent Tan Will Buy Friendster
It has been announced that Friendster an old social media networks will be acquired by Mr. Vincent Tan, I must admit that I have decreased my visit to Friendster the moment that I am hooked with Facebook. I like facebook chat, Games and Picture sharing although there lots of friendster alternatives available.
Tan’s online payment systems business will buy 100 percent of Friendster through an affiliate company, according to a joint statement Thursday as stated in yahoo finance. I am looking forward of seeing a better Friendster under it’s new management.
The two companies will be combined so Tan’s business empire can sell content such as games, movies, music and other products to Friendster’s 115 million members, using his company’s electronic payments system. Tan’s businesses include retail franchises in Southeast Asia such as Starbucks, 7-Eleven, Borders, Krispy Kreme, and Wendy’s.
The price for Friendster wasn’t disclosed but the combined entity will have annual revenue of about $110 million.
“We are creating a unique company that will be well positioned to provide content to a huge, regional user base here in Southeast Asia,” the statement said.
The amount was not disclosed, So any suggestion to the new friendster layout or feature ?
I prefer the old branding but I gues whatever works for them. I deleted my account ages ago when it got overrun with spam and bogus friends.
It is a good development though on the business side of things and for sure will create a lot of jobs in South East Asia which is good.