Friendster story and lessons

Gary Rivlin at the New York Times  his written great piece on Friendster. This could be considered as  best overview yet of the terrific bungle of social networking company,which sparked the social networking revolution by allowing friends to hook up with others.

It is a great tale of how Jonathan Abrams started the site as a way to get a few dates, turned down a $30M buyout offer from Google (which would be worth around $1B in GOOG stock today), and opted to raise VC money from John Doerr of Kleiner Perkins and Bob Kagle of Benchmark — trying to create the next big thing.

Friendster had everything a “dream Start-up” seek.Great idea, first mover advantage, was backed by best VCs the  in market.All this  failed to make Friendster  a “success “. 

Friendster story tells us many thing  us we should do as well as few we should we should not do.It tell us about role  managment team play in success of a venture.It tell us  how important  its that we use and believe  in the product we create.Focus is crucial as we grow and CEO and managment arrogance can kill  grand product in no time.

Friendster make a great case study for all aspiring WEB 2.0 enterpreneurs as we all know failure store more lessons for  us then a success.

Here is a interesting discussion about Friendster  story on Techcrunch.

Source:New York Times.
 

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