Jeff Huang, also known as Machi Big Brother, said he has made a $1 million acquisition offer for Friend.tech as the project’s market capitalization fell below $300,000. According to Huang, the offer was submitted to Friend.tech founder Racer and venture firm Paradigm. He said that if the deal is completed, the project could be restarted through a community takeover in CTO form. Following his public remarks, Friend.tech’s market capitalization rebounded to more than $2.2 million. The statement outlines both the proposed purchase price and a possible path for reviving the social platform, while also triggering a sharp move in its market value.
Odaily reported that Jeff Huang, known as Machi Big Brother, said Friend.tech’s market capitalization had fallen below $300,000 and that he had submitted a $1 million acquisition offer to Friend.tech founder Racer and Paradigm.
Huang said that if the acquisition is completed, Friend.tech could be restarted through a community takeover in CTO form. After his remarks, Friend.tech’s market capitalization rebounded to more than $2.2 million.
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