Monday, August 21, 2006

Former Friendster ceo ends up at TPG

Prior to joining Texas Pacific Group Ventures in March of 2006, Taek Kwon was the CEO of Friendster, the popular social networking pioneer. He joined Friendster in June 2005 to execute a difficult turnaround of the company as revenue was quickly declining and user growth had stagnated. During Taek's tenure, the company reduced operating expenses by over 50%, resolved the company's legacy technology problems, launched Friendster 2.0, an innovative community product that provides applications for the publishing and discovery of user-generated multimedia, increased US audience by 85%, and doubled revenue.

No comments: