Asia Pacific social networking site Friendster to transfer valuation of $140 million

Beijing on July 28th news: according to foreign media reports, the main "sphere of influence" in Asia, the social networking site Friendster is inviting Morgan Stanley to find a buyer in the Asia Pacific region, Friendster hopes to transfer all or part of the equity.

U.S. technology blog site TechCrunch access to documents containing the above message. Documents show, Friendster has invited us investment bank Morgan Stanley as trading advisor, whereas almost all users of Friendster are in the Asia Pacific region, Morgan Stanley, mainly looking for potential buyers in the Asia Pacific region, has introduced the document sent to a number of companies.

in this document, Friendster said that as of July this year, four three registered users from asia. Friendster claims to have more than one hundred million users worldwide, especially in the Asia Pacific market has a strong influence. Friendster stressed that several of its major markets, such as Singapore, Indonesia, Malaysia and Philippines in the next few years will usher in the rapid growth of Internet users. Friendster said that one hundred thousand new users per day, page traffic of five hundred million, has entered the list of the world’s top 20 sites.

in terms of personnel, Friendster said he hired 105 people in the world, they are located in Australia, the United States, Philippines, Singapore and other countries.

documents show that Morgan Stanley and Friendster hope that potential buyers is a company that wants to cut into the social networking market in Asia as soon as possible. Friendster said, in relation to consider threshold and local content providers and partners, newly arrived is difficult to succeed in the Asian social network market.

documents also show that, in addition to network advertising, Friendster is also prepared to get revenue through more channels, including virtual gifts, games, polls, online dating, music and classified ads.

however, this document does not have the most important site valuation information. According to the recent valuation of the industry’s $10 billion Facebook were compared to calculate that Friendster valuation of about $210 million. The main reason for the low valuation is relatively low consumption capacity of Southeast Asian countries, the value of the advertising company is difficult to compare with Facebook. In addition, if the reference Facebook common stock $6 billion 500 million more stringent valuation, Friendster valuation of only $137 million.

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