Friendster: Rising from the Undead

Friendster has raised new money ($20 million) and has nabbed a new CEO from Google. After a terrible fall in the US, Friendster had stayed with it and now is making a comeback with surprising momentum in Asia.

While it’s not even in the top 50 sites in the US according to comScore, it’s a powerhouse in the East and claims more users globally than Facebook and MySpace. While it’s unlikely to challenge in the US market or even in the EU, its an amazing comeback story.

Friendster became “damaged goods” in terms of its brand several years ago, creating the opening for MySpace. However the brand didn’t suffer in the same way or become stigmatized in markets outside the US.

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