Web News buzzes: MySpace Sold to Ad Network for $35 Million

Web News buzzes: MySpace Sold to Ad Network for $35 Million:

Web News buzzes: MySpace Sold to Ad Network for $35 Million http://socialbarrel.com/wp-content/uploads/2011/06/News-Corp-Again-Reported-To-Be-On-Verge-Of-Selling-Myspace.jpg

Slide 2:

Specific Media acquires MySpace, a leading social entertainment site for just $ 35 million. Ironically, Rupert Murdoch’s News Corp coughed up $ 580 million in 2005 to buy the same site when it was at the peak of its success. http://www.operationward57.org/media/website/social_myspace.jpg

Phases of MySpace:

Phases of MySpace http://www.takaminamino.jp/myspace_logo2.jpg

2003: The Birth of MySpace :

2003: The Birth of MySpace http://blog.cgsm.com/wp-content/uploads/2011/01/myspace-logo-in-high-resolution.jpg

Slide 5:

DeWolf and Anderson realized the potential of social networking and founded MySpace together. They started expanding the site internationally which gradually culminated into its exploding growth. http://www-deadline-com.vimg.net/wp-content/uploads/2007/06/dewolfe_anderson.jpg

2004- 2008: Exploding Growth and Decline:

2004- 2008: Exploding Growth and Decline http://www.ultraslideshow.com/img/myspace.jpg

Slide 7:

2004-2005 witnessed the immense popularity of MySpace. Its fame didn’t go unnoticed by News Corp which purchased the company at eye watering $580 million. http://seoblackhat.com/images/myspace-growth-graph.png

Slide 8:

2005 to 2006 witnessed user profiles jumped from 2 million to 80 million and due its massive popularity, MySpace, faced serious safety issues. The site was open to frank and provocative discussions, links or pictures. This gradually made MySpace unpopular. The number of users fell sharply and moved to Facebook or Twitter. http://www.dustinkirk.com/blogpicsBig/Failure.jpg

The final sale of MySpace:

The final sale of MySpace http://www.sfexaminer.com/files/f055f932801c8b0ef10e6a7067007891_3.jpg

Slide 10:

News Corp which bought MySpace at whooping sum of $580 million in 2005 offloaded its unwanted baby at $ 35 million now to a powerful advertising site, Specific Media. http://cppnews.com/wp-content/uploads/2011/01/myspace1.jpg

What’s next now?:

What’s next now? http://3.bp.blogspot.com/-AAQogwfsHJI/TcInsc13tYI/AAAAAAAABDE/jNE7pCBt12A/s1600/question-mark.jpg

Slide 12:

News Corp plans to retain a small stake in MySpace. The company plans to contribute $ 100 million for the site which has steadily shed users and advertising revenue over the past few years. Specific Media, the new owner, wants MySpace to return to its roots as a site for music fans to explore new songs and bands. MySpace’s staff of 400 will also reduce to a half. http://www.young-germany.de/uploads/pics/flickr_user_Spencer_E_Holtaway.jpg

Slide 13:

A Letter from outgoing CEO of MySpace, Mike Jones to the staff on June 29, 2011 when deal with Specific Media was announced. A few excerpts from the letter… http://www.hollywoodreporter.com/sites/default/files/2011/01/mike_jones_a_p.jpg

Slide 14:

“Today, we are announcing that Myspace will be acquired by Specific Media, one of the world’s leading online media and advertising platforms.” “In conjunction with the deal, we are conducting a series of restructuring initiatives, including a significant reduction in our workforce.” “While I regret we won’t be working together at Myspace any longer, I am very proud of the work we have done here and believe we have performed with excellence – even under extremely difficult circumstances.” Link: http://www.hypebot.com/hypebot/2011/06/read-myspace-ceo-mike-jones-goodbye-email-to-his-staff.html http://www.theepochtimes.com/n2/images/stories/large/2011/01/13/myspace_79493996.jpg

Justin Timberlake, pop musician and renowned actor, joins MySpace:

Justin Timberlake, pop musician and renowned actor, joins MySpace http://moviecarpet.com/iwave/images/7/o-justin-timberlake-to-take-ownership-stake-in-myspace.jpg

Slide 16:

The star will guide the company in the creative direction. Timberlake says, “There's a need for a place where fans can go to interact with their favourite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Myspace has the potential to be that place.” http://zoecarter.com/wp-content/uploads/2011/06/510.jpg

Slide 17:

Will MySpace revive and rediscover itself? Let the time unfold! http://t2.gstatic.com/images?q=tbn:ANd9GcS_JT8UFhAN_-X4RpvPgBBcAkUQlALeiajzoZfOZtGmCoaLVWUy&t=1