CNET -- Nov 14 -- Friendster has hired a banker (Montgomery & Co., a boutique investment banking firm in Santa Monica) to find a buyer, CNET News.com has learned. Company executives have been talking to several Internet media companies about an acquisition, according to those sources. According to one source, it was looking for a sale price in the ballpark of $200 million. Now its price has been lowered to the range of $50 million to $100 million. From September 2003 to March 2004--during the height of Friendster's popularity--it drew more than 1 million unique visitors per month, according to Nielsen. Since then, Friendster's traffic has fallen to roughly half that. The site has roughly 21 million members. FULL ARTICLE @ CNET
Mark Brooks: Hopefully, if Friendster sells, it will sell for $100 million or more. $50 million seems awfully low given that it was valued at over $30 million for it's first VC round. It's still a very considerable internet property and holds a lot of promise.