MYSpace Sells for 35M

ebtek

ebtek

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Oct 21, 2008
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MySpace Sold for $35 Million [REPORT]

The day that the web has been buzzing about has finally come: It seems that MySpace has been sold to an advertising network called Specific Media for a mere $35 million.News Corp. declared it was ready to sell MySpace in an earnings call in February. The media company was reportedly hoping to get $100 million out of the sale.
News Corp. bought the site for $580 million from its original owners, but MySpace’s traffic has plummeted in recent years.
All Things Digital reports that the deal will close Wednesday but has not yet been signed. News Corp. will reportedly hold a 5% to 10% stake in the company.
Other reports this week indicated that close to 50% of the site’s staff could be cut after the sale, and it’s likely that any further iterations will focus on music.
 


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35 million $, a joke considering they paid 580 million $ :)

traffic it's decreasing everyday, they should have sell it earlier
 
holy shit that's peanuts, wtf. I dont have 35m but it would have been baller if they offered it this much 2 years ago so someone here couldve bought it and slapped the shit out of it with rebills ads.
 
This it what happens when you don evolve folks. Myspace is a spam filled shit hole now a days.
 
I think they raped someone by selling this for 35M. Myspace has been dropping faster than any other company on the web for quite some time now.
 
blogginginc said:
Sooner of later Facebook will go through the same.
Click to expand...

Same thought, not the same end of Myspace but the decline of Facebook is already clear. They have given up on a great goal: reach 1 billion users within 2011.
We must wait for the next big thing that will do to FB what FB did to Myspace
 
blogginginc said:
Sooner of later Facebook will go through the same.
Click to expand...
Even with all of Google's big news lately, I highly, highly doubt it. -Unless you're talking about the year 3500 or so...

Facebook isn't sitting still. There is a huge difference and the investors obviously know it. Google will take a chunk out of their social traffic, but it is a FACT that Facebook's open graph ad system is going to take a huge chunk out of Adsense/adwords. (If not utterly destroy it.)

So you better get used to seeing FB & G going at it for years, if not decades. They have already scuffed each others' clean, white sneakers and soon will be going for the suckerpunches.
 
lukep said:
Even with all of Google's big news lately, I highly, highly doubt it. -Unless you're talking about the year 3500 or so...

Facebook isn't sitting still. There is a huge difference and the investors obviously know it. Google will take a chunk out of their social traffic, but it is a FACT that Facebook's open graph ad system is going to take a huge chunk out of Adsense/adwords. (If not utterly destroy it.)

So you better get used to seeing FB & G going at it for years, if not decades. They have already scuffed each others' clean, white sneakers and soon will be going for the suckerpunches.
Click to expand...

Too add a little bit more to this point, Facebook user search's have been climbing, users are spending less time searching Google for information because they get it all delivered to their news feed in Facebook in damn near real-time.

Not to mention Facebook's Open Graph Protocol, which does things like

Code: 
<meta property="og:title" content="The Rock"/>
    <meta property="og:type" content="movie"/>

These little tid bits of information spread out all over the web makes for a great search engine business in the future years, however I'm not saying Facebook will jump on the search bandwagon but their partner Microsoft with their Bing engine trying to beat out the big G for quality results still hasn't gone away.

Obviously Google could utilize the open graph protocol as well but overall Facebook is here to stay, everyone is worried that Facebook is loosing members and will disappear but the fact of the matter is they have done an excellent job at expanding their verticals and embedded themselves into the web as a whole.

Hell Facebook could run an full business alone just off their registration plugin making them the central login and authentication platform for the web in the coming years, might not happen sure but it does have the potential.

So will a company come around that will over-power Facebook, the answer is yes but I do not believe for a second that Facebook is going to go down over the next 10 years like MySpace did, they are just doing too much to roll over and die like that.

The biggest mistake MySpace made was taking literally not one word of a lie 7, yes 7 years to make even a fucking design update to the site. They built it and didn't do shit with it, that is a huge reason why they died, not the only reason but a big one none the less.

/rant
 
OMG!!!!!!!!!!!! That seems ultra ultra low to me.

I bet I could make the $35m back in just a few years running legit affiliate offers and selling just a little bit to brand advertisers, as long as the decline in traffic isn't ultra sever.

And that is not even considering the opportunity to take it in a different direction and increase traffic and then sell it to wall street when the tech/net industry is in bubble mode.

They are going to make a killing on this if they do it right.
 
From a billion $ evaluation to 35 M is a bit of a comedown. But why would anyone in their right mind want to buy it?
 
Does this include myspace music or what? Myspace music is still a pretty dominate force from what I understand - whenever I search for a new band I almost always hit their myspace first.

Facebook has being making little forays into this market as well and there are a number of other players (grooveshark etc). But myspace still has a lot of search power.
 
I'm gonna guess blue is Facebook because they use blue colour scheme... looks like things are on the up and up at Myspace.
 
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