Meetro Purchases Friendster For $17,000 CDN And A Hand Job
Guys, this is the real deal here. My boy Paul Bragiel just sent me this press release and since it says FOR IMMEDIATE RELEASE it is my responsibility to my 6 Business Logs readers to IMMEDIATELY RELEASE it by quoting from it liberally.
San Francisco, Calif. - April 1, 2006 – Meetro, the world leader in Instant Messaging software announced today it has entered into an agreement to acquire Friendster, one of many social software sites for keeping in touch with friends and hooking up with new people.
Financial terms of the deal were not disclosed.
“We’re excited to be acquiring Friendster because we can leverage their web 2.0 technology,” said Paul Bragiel, CEO of Meetro. “This acquisition gives Meetro another brand name in its warchest, similar to Infogrames purchasing Atari a few years back.”
Friendster will provide Meetro users the ability to see who’s looked at their profile to encourage a greater number of ‘random hookups’ without the need for alcohol. Leveraging Meetro’s location-based technology will allow users to see other members in ‘real-life’ and avoid a common photo profile pitfall known as “the angles.”
Paul told me some additional information about the sale, notably, that he traded in his Honda Civic DX for Friendster since the $17,000 CDN Blue Book value for the Civic was so close to the Friendster valuation at the time of purchase. As part of the deal, Friendster executives will be driving his Civic around the Bay Area, while Paul’s end of the deal forces him to actually use Friendster, a feat that no one has actually done for years now.
The details of the hand job were not disclosed.
