VentureWrap: Friendster, SpaceX Raise $20M Funding

One of the earlier social networking pioneers, Friendster, has continued its Asian-led comeback with a $20 million infusion from IDG Ventures and previous investors [Benchmark, DAG Ventures, Founders Fund and Kleiner Perkins].

In addition to the cash Friendster has secured Richard Kimber, formerly Google’s South Asian Regional MD, as CEO.

Also raising $20 million is SpaceX, the Elon Musk-led space transporteer. The round was provided by Founders Fund. Musk is a former South African and founder of Paypal and Tesla. The recent test of their Falcon 1 rocket hit a snag with stage separation lock. This led to the craft not achieving orbit. Elon has unequivocally stated that they are still on track – the message from this funding round backs him up.

Founders Fund are having a busy time of it lately. One of their other portfolio companies, Facebook, is apparently contemplating empowering staff to sell off a portion of their vested stock. This accords with the philisophy of letting founders cash out along the journey, which has been a key Founders Fund differentiator – extending it to all employees is an interesting move.

Incidentally LinkedIn is also reportedly [via VentureBeat] contemplating this route.