Social-Networking Sites

Social-Networking Sites: "Social-Networking Sites"

By ANN GRIMES

Friendster has friends where it counts.

"Although still in its 'beta,' or testing, phase, the popular social-networking Web site has closed a $13 million financing round led by Kleiner Perkins Caufield & Byers and Benchmark Capital. Battery Ventures also participated in the funding, pushing the valuation of Friendster to around $53 million, say people familiar with the matter. Among those joining the Sunnyvale, Calif., company's board: Kleiner's John Doerr, Benchmark's Robert C. Kagle and Yahoo Inc.'s former chairman and chief executive, Tim Koogle."

- An interesting concept. I always look out for new things and try to see how to combine them with what I already know in new and interestin ways. This, I think, is one of those new ideas that might prove quite useful if thought through. -ed.

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