Friendstar’s New Business Strategy
Friendstar is one of the early social networking sites which was overshadowed in recent times by mySpace and facebook. The company will announce Tuesday a new chief executive, Richard Kimber, the regional managing director of South Asia for Google and $20 million of new funding. Also, they are going to have a fresh look on Asia.
Friendstar received funding from IDG Ventures and past Friendster backers such as Kleiner Perkins Caufield & Byers and Benchmark Capital. The pioneering social networking company is also planning to get strong in terms of their presence in Asia.
Friendster’s decision to diversify — and to launch sites in languages such as Indonesian and Vietnamese — paid off. The company grew to 75 million registered users in June, up from 45 million in June 2007. More than 55 million of its registered users were in the Asian-Pacific region, up from 35 million in June 2007.
As per comScore Inc., the service was the ninth most popular global Web site, by page views in June. So, it has doubled its number of page views year-to-year.
Source: Wall Street Journal
Filed under Open Source Platform, Social networking Software, VC Fund