Friendster’s Woes Continue
CEO Scott Sassa is out at Friendster after less than a year on the job. Jeremy Zawodny leaked it and then Businessweek confirmed it. There’s also talk of a new infusion of VC cash and a round of layoffs.
You’ll find plenty of commentary about these events around the Web. Our 2 cents comes from the 30,000-foot perspective. With all the good news and positive activity in the search/social networking/tagging sector, it can be easy to forget that life at a start-up can be a real bitch – not to mention investing in one. The VCs behind Friendster – Kleiner Perkins, Benchmark, and Battery – are not dumb, but they’re also not immune to the uncertainties that face emerging businesses. There’s still time to figure this one out, but we’d expect some more pain along the way.
For a good overview of the challenges facing Friendster, check out this post by Bill Burnham.
Read: Friendster Profile – [a:c]
Read: NY Times No Friend of Friendster – [a:c]