MYSpace Sells for 35M
- Thread starter ebtek
- Start date
ZuzanaDesigns
All Your Design Needs
Mashable reports that the new owners will re-structure it focusing only on the music niche, so yeah I'd say it includes it.
People forget that myspace, post $580mm acquisition, was still a top 5 site and making a killing from their ad inventory. My guess is News Corp made back a lot more than the $580mm they spent on the purchase. Early affiliates were killing it on Myspace too with credit reports, mobile, continuity, almost everything.
Now if you look at Specific Media who just bought them for $35mm their executive staff has as good of experience as you will find in the ad serving business. I'd put my money on them being able to return a profit on the $35mm if even in a worst case scenario all they do is milk the remaining ad inventory.
Some people are so quick to say 'OMGZ they bought for $580mm and now sell for $35mm what idiots'... but when you think about it that's not necessarily the case.
Now if you look at Specific Media who just bought them for $35mm their executive staff has as good of experience as you will find in the ad serving business. I'd put my money on them being able to return a profit on the $35mm if even in a worst case scenario all they do is milk the remaining ad inventory.
Some people are so quick to say 'OMGZ they bought for $580mm and now sell for $35mm what idiots'... but when you think about it that's not necessarily the case.
LOL, your guess is way off. News Corp was losing $$$ hand over fist with that horrible acquisition.
I think they squeezed out one profitable year with around $10m. The rest of the years they were in the red by tens of millions. Facebook absolutely CRUSHED them.
News Corp. Selling Myspace to Specific Media - WSJ.com
woulda been better if he was sitting on the what looks to be a shitter in the background.
