Social travel site Where Are You Know (WAYN) has revealed it has had several offers this year, thought to value it at about £100m.
"We have indeed had several approaches," said Annika Erskine, marketing manager.
Several bidders are thought to be circling but Ms Erskine declined to identify them. It is thought American internet giant AOL is one interested party.
The approaches are believed to have been made since the start of the year, but an insider suggested an official announcement of a deal had been delayed because talks have stalled over a proposed payout clause.
If a deal is struck, WAYN would notch up one of the biggest price tags yet for a British-based social network start-up, following in the footsteps of social music site Last.fm, which was sold to CBS for £140m in May 2007.
Launched in 2002, WAYN boasts a membership of more than 10 million people.