eCommerce Buyout? Game On, Friendster

Mon, Dec 14, 2009

Industry, Social

friendster_logoJust after adding games to its offering, social networking giant Friendster was sold to an eCommerce company in Malaysia (MOL Global) late last week.

MOL Global is an online payments firm, founded by Malaysian tycoon Vincent Tan. It operates upwards of 500k payment channels across 75 countries (physical and virtual), and MOL will merge its existing social offerings with Friendster, “to create Asia’s largest end-to-end content, distribution and commerce network, pairing MOL’s offline retail channel partners and payment platform with Friendster’s large online footprint, social network and community in Asia.”

Friendster has more monthly uniques in Asia than any other network, by the way. Also – just a few days before Friendster was acquired by MOL Global, the site got a spiffy redesign, including: a new social gaming section and, quite conveniently for MOL, micro-transactions (with virtual currency and virtual gifts).

Under the aquisition deal, MOL’s Ganesh Kumar Bangah will become group CEO of the combined company, while Friendster CEO Richard Kimber will become non-executive chairman.

Be Sociable, Share!

Related posts:

  1. Social Gold Extends Reach Into Asia
  2. Facebook’s New Universal Currency in the Works?
  3. New Virtual Goods Rewards Program from Offerpal Media
  4. Social Gold Announces Partnership with
  5. GDC Online To Host First Annual Game Developers Choice Online Awards
, , , , , , , , , , , ,

This post was written by:

- who has written 1010 posts on Frisky Mongoose.

Contact the author