Friendster (yes it is still exist) the social site which reigns the web before facebook pushed from its throne. Friendster was allegedly be stepping out from the US land when report from techcrunch that Central Asia will be the new base of Friendster.
After confirming the reports, the MOL Global, a Malaysian payments company released news that they purchased the social network Friendster with the amount of $100 million. Terms of acquisition are not disclosed.
Friendster, which was founded in 2001, has raised over $45 million in venture capital to date. The reason why MOL purchased Friendster even the site is not HOT in the US anymore because there were still members in the Central Asia parts.
Appointed Richard Kimberas, new CEO redesigned the site. Friendster wallet and its platform are one of the main reason why MOL Global want to acquire Friendster 100%. Acquiring it can form Massive Content Distribution and E-commerce Platform in Asia for Over 100 Million Users. The principal shareholder of MOL is Tan Sri Vincent Tan, the Chairman and CEO of Berjaya Corporation Berhad, a leading, diversified Malaysian conglomerate that has annual revenues in excess of US$1.8 billion.
Primary target of this merging is to create an Asia’s largest end-to-end content, distribution and commerce network. In addition, MOL uses the leverage of a network of over 500,000 physical and virtual payment channels across 75 countries worldwide to collect payments for content and services.
Location for these two entities will maintain in the same are including Mountain View, CA (USA), the Philippines, Malaysia and Singapore. Ganesh Kumar Bangah will become the Group Chief Executive Officer of the combined entity while Richard Kimber will become the Non-Executive Chairman.
Malaysia, Singapore, Indonesia, Philippines, Thailand and India are the core markets of MOL. It also had over 70 online game publishers that have a suite of over 200 online game titles.
After confirming the reports, the MOL Global, a Malaysian payments company released news that they purchased the social network Friendster with the amount of $100 million. Terms of acquisition are not disclosed.
Friendster, which was founded in 2001, has raised over $45 million in venture capital to date. The reason why MOL purchased Friendster even the site is not HOT in the US anymore because there were still members in the Central Asia parts.
Primary target of this merging is to create an Asia’s largest end-to-end content, distribution and commerce network. In addition, MOL uses the leverage of a network of over 500,000 physical and virtual payment channels across 75 countries worldwide to collect payments for content and services.
Location for these two entities will maintain in the same are including Mountain View, CA (USA), the Philippines, Malaysia and Singapore. Ganesh Kumar Bangah will become the Group Chief Executive Officer of the combined entity while Richard Kimber will become the Non-Executive Chairman.
Malaysia, Singapore, Indonesia, Philippines, Thailand and India are the core markets of MOL. It also had over 70 online game publishers that have a suite of over 200 online game titles.
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