Remember Friendster? It is regarded by many as the father of the “modern” social networking. In 2003, Friendster created a lot of buzz and was well on its way to becoming huge. In fact, MySpace was created to emulate the success of Friendster.
At one point, Google offered to acquire Friendster for $30 million. It doesn’t seem like much with billions of dollars spent by Google and Yahoo! today, but back in those days it was a pretty decent offer. Jonathan Abrams, the founder of Friendster, rejected the offer and decided to go it alone. And that’s when Friendster slipped from the radar screen.
With the huge success of social networking sites like MySpace and Facebook, the New York Times takes a look at the company that started it all and the factors that led to its decline.