Once the most popular of the social networking websites.
MySpace is a once-successful social networking site. Contrary to the sterile Facebook profiles which offer limited customisation, MySpace profiles give the user full control over their page. The typical profile is "pimped out", with Blingee animated gifs and many dozens of embedded YouTube videos. A cottage industry developed around customizing and adding more crap to MySpace profiles for people too stupid to figure out html who usually also lack an eye for good design.
MySpace Sex Offender Controversy
In 2007 MySpace deleted about 29,000 user profiles linked to registered sex offenders.
MySpace was founded in 2003, and by 06/2006, the website became the most successful of the social networking sites.
MySpace rolled out a site redesign in October 2010 focusing on music and entertainment, hoping to draw back in some of the users who left for greener pastures. MySpace's existing userbase often consists of, aside from music bands, younger people and poorer people. So MySpace can't make as much money off of its userbase as Facebook can make off of its older, wealthier userbase.
In January 2011, MySpace announced a staff cut of 47%.
Attempt to Sell
In late April, 2011, News Corp began desperately trying to sell the site, seeking bids of at least $100 million which is $480 million less than they paid for it in 2006.
Sold to Specific Media for $35 Million
The site was sold to a company called Specific Media in late June 2011. Not much is known about Specific Media, but it seems Justin Timberlake is a shareholder.
- MySpace was sold by News Corp for $35 million, a fraction of the $580 million paid in 2005.
Myspace through a proxy