"In the past, we had often chosen the more exotic solution over the more simple solution," Lindstrom said. Trailblazing a new field like social networking was enough of a challenge. "But we were also trying to innovate on the tech side as well," he said. The company finally licked its performance problems this last summer, Lindstrom said.
The team now running Friendster hopes it can position the company as a site for an older demographic group -- people 25 to 40 -- who do not have the time or inclination to spend hours each day on MySpace.
"Friendster missed the chance to become a multibillion-dollar company," said Thiel, the PayPal co-founder who has continued to invest in Friendster. "But I still see a lot of opportunity here."
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