Today in Social Networks

Myspace usage continues to accelerate after NewsCorp’s acquisition.

And then there’s Friendster. The old favourite and darling of VCs a few years back have fallen from the pedestal of grace and favor in the eyes of investors today. According to this link, Friendster is going to be sold, at an astronomical valuation in my opinion of upwards of $15 million or even more. Its just a crazy pricing considerng how easy and how competitive the social networking industry is today, with every John Doe out there trying to create one. Just how much is “eyeballs” and buzz worth today? Yes, Friendster may be big in some Asian countries, read this, but someone has to be insane to pay that price without a clear strategy. Friendster’s interface sucks, to change it would alienate its current users, depreciating one of the key selling points.


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