$100M for Friendster? Not So Much

FriendsterLogo.jpgBlame it on the satire video posted by The Onion: Malaysia-based MOL Global apparently paid less than $30 million for freshly revamped social-networking site Friendster, and not the $100 million that was previously reported, TechCrunch reported.

According to TechCrunch, the actual purchase price was $39.5 million, but deductions of more than $13 million were as follows: $3.7 million in secured debt; $2.5 million in cash in Friendster’s bank account; $2.1 million paid to Friendster CEO Richard Kimber; $1.4 million to other Friendster executives; and $3.4 million to Morgan Stanley and other third parties (lawyers, escrow agents, etc.).