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The pioneering social network, surpassed by MySpace and Facebook in most of the world, is still going strong in Asia, and now it plans to build on its success there. On Tuesday, the company will announce a $20 million investment round and a new chief executive, Richard Kimber, the regional managing director of South Asia for Google.
The funding round is led by IDG Ventures and includes past Friendster backers such as Kleiner Perkins Caufield & Byers and Benchmark Capital.