FRIENDSTER TAPS SCOTT SASSA AS CEO

Good move by Friendster. I was wondering when they would make a move towards becoming a revenue generating business. Beyond advertising revenue, it will be interesting to see how these online social networks make money. Well, a lot of money. I assume Kleiner Perkins and Benchmark wouldn't have invested unless they saw a 10x potential. From Venture Wire Alert:

The Web site has tapped former NBC executive Scott Sassa to take over as chief executive. Sassa, 45 years old, held several top positions at General Electric Co.'s NBC from 1997 to 2003.

The recruitment represents the latest move by Friendster, of Mountain View, Calif., to transform itself from a quirky Internet start-up to a profitable online business. Last fall, Friendster - which helps connect people through friends they have in common - signed on former Internet executives as investors and raised $13 million in financing round led by Kleiner Perkins Caufield & Byers and Benchmark Capital. The social networking site, founded in March 2003, has more than 7 million members.