It took Kevin Leversee and his first startup company two years to get an MBA in How NOT To Do It. He shares:
What kills a social network? A group of internet archeologists have picked over the digital bones of Friendster — the pioneering social networking site that drowned in Facebook’s wake — and we now have a clearer picture of its epic collapse.
Friendster was once the hottest thing in social networking. Google wanted to buy it for $30 million back in 2003, but — burdened by technical glitches and a more nimble competitor in Facebook — it was pretty much dead in the U.S. by 2006. That said, it trudged along for a few more years, helped by a relatively strong following in southeast Asia. Then, around 2009, a site redesign crushed it.