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MySpace sold for $580 million in 2005, sells for $35 million in 2011

Discussion in 'Social Networks' started by danasurvey, Jul 6, 2011.

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  1. #1
    It's amazing how much value MySpace lost in just 6 years!!

    Did everyone hear that Justin Timberlake was part of the group that bought MySpace?

    So much for Rupert Murdoch making a profit on this one.

    I still think the new ownership will have a tough time competing with Facebook and Twitter.
     
    danasurvey, Jul 6, 2011 IP
  2. cobbler

    cobbler Member

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    #2
    Myspace will have to undergo a complete revamp, top to bottom. I hope have they have the development team in place to handle this. I mean, look what happened to the Friendster. Weren't they the original social network?? Facebook gets 143M visitors/mo, Myspace 31M and Friendster 573K. Myspace has a long way to go to beat out Facebook. And now with the launch of Google+ they have even more competition.
     
    cobbler, Jul 6, 2011 IP
  3. lowrider.STi

    lowrider.STi Member

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    #3
    myspace was overtaken by facebook some time ago..no wonder its value is so low no...They need a miracle to become what they used to be.
     
    lowrider.STi, Jul 6, 2011 IP
  4. jwmann2

    jwmann2 Peon

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    #4
    They have no capabilities and had poor maintanence of spammers. (Myspace)
    What could you do on Myspace? It was good for Music and bands, but not for the general public. I prefer Twitter to facebook these days actually.
     
    jwmann2, Jul 6, 2011 IP
  5. danasurvey

    danasurvey Well-Known Member

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    #5
    Agreed. MySpace needs to be totally reworked and add something unique that FaceBook doesn't offer. As for the development team, I heard as part of the sale, half of MySpace's staff was laid off.
     
    danasurvey, Jul 16, 2011 IP