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Friendster, OLX partner for classifieds

Struggling social network launches a Craigslist-like service through a deal with classifieds provider OLX.

Social-networking site Friendster announced Thursday that it has partnered with classifieds listing provider OLX for a new classifieds and job posting feature. Financial terms were not disclosed, but Friendster did say that the two companies would share advertising revenues. The deal, which was described in a statement from Friendster as a "multiyear partnership," will allow Friendster users to post free listings pertaining to personals, real estate, vehicles, jobs and several other categories. The classifieds section is now accessible through a link at the top of Friendster's homepage.

Despite having been a pioneer in online social networking's early days, Friendster has seen its popularity eroded by newer players with younger users bases like MySpace and Facebook. Nevertheless, Friendster managed to land a $10 million investment from several venture firms last year after considering the possibility of putting itself up for sale.