In July 2005, Myspace was acquired by News Corporation for $580 million, and in June 2006, it surpassed Yahoo! and Google to become the most visited website in the United States.
Who acquired Myspace?
Rupert Murdoch’s News Corp. bought Myspace and its parent company, Intermix, in 2009 for $580 million. Just a few years later, Murdoch sold the obsolete platform to media company Viant for $35 million.
How much did Justin Timberlake sell Myspace for?
MySpace peaked in 2008 with some 76 million U.S. visitors before losing ground to Facebook. News Corp. sold the company to Justin Timberlake and other investors in 2011 for $35 million. Today, it is an entertainment-focused site that plays music videos and songs. Time Inc. will not say what it paid.
Does Murdoch still own Myspace?
Rupert Murdoch’s News Corporation bought Myspace in 2005 for $580m. In 2006 Google signed a $900m deal to sell ads on Myspace; by 2007 it had 300m registered users and was being valued at $12bn. … The sale is believed to be mainly in stock and News Corp will retain a small holding.
How much did News Corp pay for Myspace?
Back in 2005, Rupert Murdoch’s News Corp. bought Myspace for a stunning $580 million. Today, News Corp. sold the struggling social network to an advertising targeting firm for $35 million.
Does Zuckerberg own Myspace?
On February 11, 2016, it was announced that Myspace and its parent company had been purchased by Time Inc. for $87 million. Time Inc.
|Screenshot of Myspace in 2017|
|Founder(s)||Chris DeWolfe Tom Anderson Jon Hart|
|Key people||Tim Vanderhook (CEO) Chris Vanderhook (COO) Justin Timberlake|
What caused the downfall of Myspace?
Myspace failed because of rising competition, a poor and inconsistent product, heavy spending, as well as ongoing legal battles. Launched in January 2004, the site became the world’s leading social media platform. It was acquired for $580 million by News Corp in 2005 but eventually flamed out.
Does anyone still use Myspace?
Officially, however, Myspace is far from dead. If you go to myspace.com, you’ll see that it is very much still alive, though it has mostly transitioned away from social networking to become a curated music and entertainment site. As of 2019, the site boasted over 7 million monthly visits.
Is Tom from Myspace rich?
Tom Anderson is an American entrepreneur and co-founder of the social networking website, ‘MySpace. ‘ MySpace has gained popularity with everyone and registered more than 100 million accounts. As of 2022, Tom Anderson’s net worth is estimated to be roughly $60 million.
Did Justin Timberlake own Facebook?
Justin Timberlake is a co-star of “The Social Network,” the new movie about the founding of Facebook, but in real life he doesn’t have a personal Facebook page. “I’m ridiculously stupid when it comes to computers and social networking,” Timberlake says. (There is a promotional page devoted to the star on the site.)
Why did Justin Timberlake buy Myspace?
Timberlake said in a statement: “There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Myspace has the potential to be that place.
How did Myspace Make Money?
Myspace became the largest social media site from 2005 to 2008, with over 80 million unique users a month at its peak in 2008. Myspace earned a lot during this period and its only source of income was ad-revenue that it got from allowing adverts to be shown on their site.
When did News Corp buy Myspace?
Advertising company Specific Media will team with the singer Justin Timberlake to acquire Myspace in a deal that caps a tumultuous period of ownership under Rupert Murdoch’s News Corp, which swooped in to buy Myspace for $580 million in 2005.
Did Facebook Buy Myspace?
In 2008, Facebook overtook Myspace in popularity; News Corp sold Myspace in 2011 to Specific Media Group and Justin Timberlake for $35 million.