"Update: There seems to be a fair bit of confusion about the valuation Topix.net received, in part created by Bambi Francisco first reporting only that "the funding was less than $5 million" but then updating her article to say:
The three newspapers bought 75 percent of the company for a market valuation below $100 million, but north of what venture capitalists valued Friendster, according to someone close to the deal. Friendster ... received a market valuation of $50-plus million.
My interpretation of this is that Topix.net was valued between $50-100M for the buyout and also received $5M in cash for expansion and future operations. Very impressive. "
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