More on Social Networking - Friendster

Apr 15, 2004 • 6:26 pm | comments (0) by | Filed Under Miscellaneous

I seem to post once a week on this social networking topic but here is one more. Lisa from Trylon Communications emailed me about this article over at BusinessWeek Online named Tim Koogle's Connection at Friendster. This quote give me confidence in my last posts on this subject, Social Networking is going to be a tough sell financially.

"the business opportunities in social networking appear cloudy, at best. If sites charge visitors to create a profile, it would curtail the number of people joining the network, squelching the potency of these services. Although Friendster has been exploring ways around this, such as including ads on its site, it still lacks a firm business plan. That challenge is right up Koogle's alley. He joined Yahoo in 1995, when it boasted just a handful of employees and no business plan. By 2000, he had helped build the portal to over $1 billion in revenues. Whether from his perch on Friendster's board or as CEO, Koogle is betting he'll match that success.

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