DONE DEAL: Bangah (extreme left) shaking hands with Kimber after the signing ceremony in Kuala Lumpur. The event was witnessed by the Tan (second from left) and Multimedia Development Corporation (MDeC) CEO Badlisham Ghazali. Source : Star-Techcentral.com
Friendster, one of the most popular social networking sites in the world, is now owned by a Malaysian company.
The new owner, MOL Global Pte Ltd, is a newly-formed entity spawned from the recent MOL AccessPortal Bhd acquisition of California-based Friendster Inc.
The merger of the two companies is aimed at creating Asia’s largest end-to-end content, distribution and commerce network.
This will be achieved through the pairing of MOL’s offline retail channel partners and payment platform with Friendster’s large online footprint, social network and user community in Asia.
Friendster has 115 million members worldwide, with more than 75 million registered users in Asia alone. Today, 80% of its Asian members are youths aged between 16 and 24.
“We are creating a unique company that will be well positioned to provide content to a huge, regional user base, especially here in Asia,” said newly appointed MOL Global Group CEO Ganesh Kumar Bangah. Friendster’s former CEO, Richard Kimber, is now the non-executive chairman.
Friendster’s rivals include the popular Facebook and MySpace social networking sites, as well as local sites JomSocial and Ruumz.
Future plans
Earlier this month, Friendster announced several initiatives that will see it focusing more on the Asian youth market, including a rebranding exercise and redesigned webpages with emphasise on Asian relevance. Read more ……
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