849 million reasons why Bebo was a mistake for AOL

Bebo co-founder and mega-millionaire Michael Birch today re-acquired the brand and the network for a million dollars. Like dance clubs, these faded (and forgotten) social network marquees are a rude reminder that social web is about people and people – especially young people are fickle.

Friendster founder launches social-news app, but will it fly?

Friendster founder Jonathan Abrams has launched a news-filtering service called Nuzzel that is powered by social-networking activity. But while his previous ventures have been early to the market, his new offering suffers from the opposite problem — the market is already saturated with similar services.

paidContent turns 10: A brief history of digital media

Remember when Friendster was the hot social network, publishers doubted that ebooks would ever sell, and Netflix (s NFLX) thought DVDs in red envelopes was the future? We do — that was that state of digital media when paidContent launched in 2002.

Facebook and Google: lessons to learn from Myspace

Last week, News Corp. unloaded Myspace for a pittance. Understanding why Myspace failed to maintain its early dominance in social networking is critical to determining whether Facebook is similarly vulnerable, and whether Google+ is on the right track.

Handicapping Facebook’s Next Billion-Dollar Business(es)

Amidst reports that it was having trouble unloading $1 billion worth of shares at a very rich valuation, Facebook last week started testing its first home-grown social commerce product, Facebook Deals. Already facing stiff competition from Groupon and LivingSocial, will Deals be Facebook’s next billion-dollar business? Competitors, marketers and developers hoping to leverage the Facebook platform need to figure out how Facebook will continue to grow.

Facebook Buys Friendster Patents for $40M

Facebook bought the entire Friendster portfolio of social networking patents earlier this year. The company bought the patents from Friendster acquirer MOL in a deal that included advertising,a partnership for payments for virtual goods and cash, and was valued at $40 million.

Mol Global Buddies Up With Friendster

Friendster’s long startup saga is over: Malaysian payment company Mol Global has agreed to buy it for an undisclosed amount. Mol recently became the payments provider for the social networking site, which claims 115 million users and reportedly sees 90 percent of its traffic from Asia.

Today in Social

“Friendster still exists?” was the reaction of some to today’s news of the aging social network’s possible acquisition by a Chinese firm. It’s easy to deride the company that lost its lead to Facebook, but its rumored acquirer, Tencent, is no laughing matter: It cleared $200 million in profit in the last quarter alone.