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Myspace is one of the leading social network sites. It's creation
is accredited to two men,
- Tom Anderson
- Chris DeWolfe
Myspace was the market leading social network site, in terms of
visitors per month. In the year two thousand and eight it was over
taken by Facebook. Which has continued it's dominance for the past
two years, with no signs of a role reversal.
Myspace was not the first social network site, but it was launched
close on the heels of Friendster, which is judged as the first global
social networking site. Myspace's advantage was foresight, it planned
on becoming a global player, and put in place the infrastructure
from the starting block.
Launched in the year two thousand and three, MySpace was originally
owned, built and ran by eUniverse. A lawsuit has been filed against
eUniverse (Intermix Media) in New York, alleging that the company
had installed spyware on user's computers.
eUniverse already had twenty million users from it's other projects.
It tapped into this user base to create a buzz about Myspace and
get it's popularity soaring. Within a few years of it's launch,
Myspace had tens of millions of signed up users.
The company soon caught the eye of bigger fish. News Corp., the
company who own Fox, bought Intermix Media Inc. in the year two
thousand and five. Intermix Media Inc (previously named eUniverse)
owned MySpace.com and some some other sites. The fee paid by News
Corp. was five hundred and eighty million dollars.
Some of the accredited founders of Myspace, such as Chris DeWolfe,
were able to buy equity in Intermix Media Inc. before it's sell
off, therefore profiting from the News Corp. takeover. Tom Anderson
remained as President of Myspace after it's takeover.
Since it's takeover, Myspace has altered many of it's features
and it's layout. Largely to keep up with the competition. Myspace
makes profit from advertising. Unlike some of it's competitors,
Myspace's revenue model is solid, and even though it's popularity
may have slowed, it's still a profitable enterprise for it's owner,
who has no current desire to sell.
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