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Friendster Names Citysearch.com Executive Taek Kwon, Chief Executive Officer

Friendster Names Citysearch.com Executive Taek Kwon, Chief Executive Officer

MOUNTAIN VIEW, Calif., May 25 /PRNewswire/ -- Friendster, the company that pioneered social networking, today announced the appointment of Taek Kwon to chief executive officer. Kwon, who currently serves as executive vice president of product and technology at Citysearch.com, will join the company on June 13. Scott Sassa will continue to serve as CEO until mid-June, and will remain with the company throughout the summer to facilitate a smooth transition.

"Just as Friendster played a key role in pioneering the market for social networks, we want to continue to lead the industry in further defining and delivering the next generation of consumer services as well," said Scott Sassa, chief executive officer at Friendster. "As a proven product development executive, Taek Kwon has the knowledge and expertise necessary to develop a long-term vision for the company, and the skills and experience to successfully execute on that strategy."

"I am very pleased to welcome Taek Kwon to Friendster, and look forward to working closely with him to create an online experience for consumers that's unlike anything in existence today," said Jeffrey Katz, a member of Friendster's board of directors. "I also want to thank Scott Sassa for the many important contributions he has made to this company. Over the last year, he successfully built a business model that grew revenue ten-fold, and put an infrastructure and numerous key relationships in place that will serve us well as we enter our next phase of growth."

Taek Kwon currently serves as executive vice president of product and technology at Citysearch.com, an InteractiveCorp company and a leading local search service. In this role, he is responsible for the direction and management of the content, product, technology and operations teams, and plays a key role in the development of innovative consumer applications that build upon the company's Local pay for performance advertising product. Previously he served as vice president of engineering and operations at Hotwire, a leading discount travel service. Kwon managed all product development, quality assurance and technology operations while chairing the executive prioritization committee.

About Friendster

Friendster is the leading online community for making new friends, communicating with existing friends, sharing information, organizing activities, finding dates, and reconnecting with lost friends. Friendster has received several industry awards, including Time Magazine's 50 Coolest Websites of 2004 and Coolest Inventions of 2003. Friendster is a privately-held corporation headquartered in Mountain View, California, and is backed by Kleiner Perkins, Benchmark Capital, Battery Ventures and individual investors.

Friendster

CONTACT: Carleen LeVasseur of Friendster Public Relations,
+1-408-264-6767, or [email protected]

Web site: http://www.friendster.com/

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