Friendster has hired a banker to shop the social network around, said sources familiar with the matter, according to CNET (via MediaBuyerPlanner).

Friendster's initial popularity has waned: From Sept. 2003 to March 2004, it drew more than 1 million unique visitors per month, but in Sept. 2005 it drew only 585,000 unique visitors, according to Nielsen.

Friendster spokesman Jeff Roberto wouldn't comment, and a spokeswoman from the boutique investment banking firm Montgomery & Co. wouldn't confirm or deny whether Friendster is a client.

Earlier this year, Friendster had been shopping for a buyer at the asking price of $200 million, according to one source. The same source claimed that the price has been reduced to $50-$100 million.