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Friendster On The Block

Friendster is for sale. The pioneering, yet long stagnated social network is presently looking for a buyer, and has hired investment bank Morgan Stanley to find an interested party, TechCrunch reports. According to documents obtained by TechCrunch, Morgan Stanley is eyeing Asia for a possible suitor -- which makes sense, the industry blog notes, as nearly its entire user base is located in the Asian-Pacific region.

In a fact sheet being sent to multiple potentially interested buyers, Friendster claims over 100 million registered users globally, are is expecting "robust" user growth over the next few years. Friendster also apparently attracts over 100,000 new users and 500 million page views on a daily basis, making it a top 20 global website based on user traffic. Also of note, Friendster is looking to expand its current revenue streams to include virtual goods, gaming, surveys, dating, music and classifieds.

Read the whole story at TechCrunch »

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