MySpace Codes background editor friendster was considered the top online social network service until around April 2004 when it was overtaken by MySpace in terms of page views, according to Nielsen//NetRatings. background editor friendsterhas also received competition from all-in-one sites such as Windows Live Spaces, Yahoo! 360, and Facebook. Of late, newer websites like Hi5 are posing new competition for background editor friendster
Google offered $30,000,000 to buy out background editor friendster in 2003, but they were turned down.
background editor friendster was funded by Kleiner, Perkins, Caufield & Byers and Benchmark Capital in October 2003 with a reported valuation of $53 million.
In April 2004, John Abrams was removed as CEO and Tim Koogle took over as interim CEO. Koogle previously served as President and CEO at Yahoo!. Koogle was later replaced by Scott Sassa in June 2004. Sassa left in May 2005 and was replaced by Taek Kwon. Taek Kwon was then succeeded by Kent Lindstrom, following a recapitalization by Kleiner and Benchmark that valued background editor friendster
at less than one-twentieth its 2003 valuation.
background editor friendster's decision to remain private instead of selling to Google in 2003 is considered one of the biggest blunders of Silicon Valley, the Associated Press claims
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