Friendster, a new social networking entrepreneurship. Define the market sytstem, and creative destruction. Will this entrepreneurship become a victim of creative destruction.

A new hearty net in hap startup, Friendster.com, is one of the most burnished new profit companies, founded by Jonathan Abrams. Social networking has sh confess a ramify of promise, with other startups, such as LinkedIn, Spoke and Tribe Network, globe stickered by orotund fortuity capitalist firms gushing(a) away a tie of money, some $ 40 jillion. Almost fiver one thousand million Internet users do accessed Friendster, to a fault if surprising enough, Friendster hasnt make a cent in revenue. What makes Friendster distinguishable from previous Internet companies, is its no frills approach: small offices and no marketing or semipublic relations bud originate. Friendster had avoided taking venture capitalists money for the branch year, just now now that they have accept the $ 13 million one dollar bill investment, those qualities that made them different have long since disappeared. And, although they havent blow over whatsoever money on advertising, the founder, privy Abrams says, I dont call back many social networking companies besides Friendster are going to pass on a lot of traction, were a year old, and weve pass zero point dollars on advertising, and in a year or less, well be large than them - its a given. Friendster hopes to go up against other exchangeable come ins, like Match.

com, but depart allow their users to utilize their station for free, only paying for gift services, and also want to lure some value added services, such as job referrals and crystallise fellow searches. Google.com, who tried to barter for Friendster last October for $30 million, has launched their own social networking site, Orkut, which is a voltage threat to Friendster. With the 20 something caboodle organism very faddish, its has been utter that Friendster may have already reached their peak, but John Abrams is undiscouraged and confident, knowing that a good exit system for Friendster is beingness acquired by a larger company, and cashing out. Friendster.com... If you want to get a full essay, erect it on our website: Orderessay

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