Friendster picked up yet another round of funding from Kleiner Perkins, adding to the pile of cash that KP, Benchmark Capital, and Battery Ventures have sunk into the dying social site. No one funding Friendster wants to admit it, but Myspace and Facebook have demolished Friendster's chances of ever turning a profit. And if some conglomerate were foolish enough to buy it? At this point, there'd be so many investors to pay off that the founders will never see a dime.

Friendster Recapitalized [TechCrunch]

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