San Francisco -- Friendster, the San Francisco-based online social network, said that it has raised $20 million in a new round of funding, led by IDG Ventures, and named former Google executive Richard Kimber as its new CEO. Previous backers Kleiner Perkins Caufield & Byers, Benchmark Capital, DAG Ventures and Founders Fund also participated in the round, which will be used to further expand the company's presence in the Asia Pacific region -- where 55 million of Friendster's 75 million registered members reside. The company's new CEO was previously the regional managing director of South Asia at Google. Former Friendster CEO Kent Lindstrom, who served in the position for the past 2 1/2 years, will remain with the company during the transition and continue focusing on key operations of the business.
http://www.prnewswire.co.uk/cgi/news/release?id=234097
http://www.friendster.com
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