Tech shakeout continued: Friendster, Backfence, Insider Pages, Orb updates
Despite fallout at social networking and other Web 2.0 companies lately, its clear that the problem isn’t lack of opportunity. Many companies still see strong growth ahead.
Check out social networking veteran Friendster.
The company lost $410,000 in December, according to documents a source just slipped to VentureBeat. Revenue was a decent at $700,000, but overhead was $900,000, and other depreciation costs made up another $200,000 or so. The company’s books project monthly losses until July of… Continue Reading