John Paczkowski

Recent Posts by John Paczkowski

Wait…Friendster Still Exists?

“Tell me why you aren’t going to be the next Friendster.”

Venture capitalist David L. Sze’s 2006 litmus test for entrepreneurs who claimed to have the next MySpace

friendsterYes it does. And what’s more, the social networking pioneer will reportedly be sold to a buyer in Asia by the end of the month. Price: Somewhere around $100 million.

That’s the latest word from Reuters, which says investment bank Morgan Stanley has been hired to handle the sale. No word yet on the buyer, though China-based Tencent Holdings is evidently among the bidders.

A decent exit for the venture, which created the social networking market only to forfeit it to Myspace and Facebook. Certainly, $100 million is far better than the $30 million Google (GOOG) reportedly offered for Friendster a few years back.


Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

Latest Video

View all videos »

Search »

The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald