A new social network startup, Friendster.com, is one of the most promising new Internet companies, founded by Jonathan Abrams. Social networking has shown a lot of promise, with other startups, such as LinkedIn, Spoke and Tribe Network, being backed by large venture capitalist firms pouring out a lot of money, almost $ 40 million. Almost five million Internet users have accessed Friendster, but surprising enough, Friendster hasn't made a cent in revenue. What makes Friendster different …
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showed last 75 words of 716 total
…users to the Friendster site. Eventually, another company may try to bypass Friendster by offering a new and more exciting service, and that may cause Friendster to become a victim of creative destruction, just as they have done to others. Bibliography What's Friendster Selling?, John Heilemann, Business 2.0, March 2004, page 46. Economics, Principles, Problems, and Policies, McConnell & Brue, page G-5. Friendster.com parlays the power of Grassroots Networking, by Janet Pak, www.detnews.com, August 4, 2003.