friendster.gif

Friendster, the early social-networking company that got overtaken by companies like MySpace and Facebook, isn’t giving up.

Its traffic is recovering, even if it is still behind the leaders. And its backers are steadfast: Kleiner Perkins and Benchmark, the two Silicon Valley venture firms that originally invested in the company, are joining DAG Ventures, to invest $10 million more into the company, according to the WSJ today.

In the piece, the company doesn’t reveal much new in terms of strategy. As already signaled, it intends to focus on adults in their 20s and 30s instead of competing to attract younger audiences.

The investment comes after a recapitalize it with $3.1 million investment earlier this year.

Also of note: The WSJ story says: “Facebook, of Palo Alto, raised $25 million in a third round of financing in April that valued the company at $500 million, according to a person familiar with the matter.”

VentureBeat

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform
  • networking features, and more
Become a member