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Friendster hires ex-Googler as CEO, raises $20 million
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Brush off your Monty Python and the Holy Grail references: although long forgotten by social-media junkies in the United States, Friendster is not dead yet. The pioneering social network announced on Tuesday that it has raked in $20 million in venture funding led by IDG Ventures and has hired Richard Kimber as its new CEO.
Kimber was hired from Google, of all places, where he served as the regional managing director in Southeast Asia. That’s key for Friendster, which has seen most of its recent growth in the Asia-Pacific region, to the point where it’s now the No. 1 social network in countries such as Singapore, as well as the Asian leader overall, according to ComScore. Friendster has been translating the site into different Asian languages and focusing on growth there rather than trying to patch things up in the States.
He takes over from Kent Lindstrom, who will remain on Friendster’s payroll after serving as CEO since early 2006. Founder Jonathan Abrams left amid the site’s U.S. decline, and he now runs an invitation start-up called Socializr.
“Friendster is growing at an enormous rate in Asia-Pacific and is clearly leading the competition. I believe this is partly because the Internet is transforming the lives of everyone, and it will probably become one of the greatest liberators of our time,” Kimber said in a statement that was arguably tinged with mild political undertones. “I look forward to growing our business further, as we continue our global growth and strong focus on Asia.”
Indeed, to fuel that growth, the company has raised $20 million. IDG Ventures was joined in the round by all of Friendster’s previous investors: Kleiner Perkins Caufield & Byers, Benchmark Capital, DAG Ventures, and the Founders Fund (which also invested in Facebook). The last money the company raised was $10 million just less than two years ago.
Friendster has more than 75 million members to date.
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[Via CNET - News.com]
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