Oh yeah, remember Friendster? While the social networking site disappeared stateside years ago, it's still holding strong with Filipino teens
Back in 2005, Friendster was faced with a really strange problem. Or opportunity, depending upon how you looked at it. See, the social networking site was based in the U.S. and funded by U.S. advertisers, but it turned out that a massive bulk of the site's millions of users were actually based in the Philippines. Friendster execs' hearts—and hopes for financial solvency— sank when they realized they weren't targeting their intended audience. Without a U.S. consumer base, their advertising would dry up.