MySpace Three Years Later
Who knew? I blushed at the price when I heard it. Sure, lots of traffic, engaged userbase. But they were being infiltrated by spam and surely someone (Facebook) would come with a better solution to their atrocious interface and topple them. But even as users flee in droves to Facebook, lots of people (who ARE these people anyway) are joining every day. And not all of them are hot, nasty 18 year old teens who “Just found this Myspace thing” and “happened to have some nude pics on this other paid site” and were “feeling naughty” and “wanted to make new friends.” You know, there’s like probably 5 actual real people who join every day too…
Three Years Later, Buying MySpace Looks Like One Of Murdoch’s Smartest Bets62 Commentsby Erick Schonfeld on October 15, 2008Three years ago today, Rupert Murdoch bought MySpace and its parent company Intermix for $580 million. That turned out to be money well spent. The last time we ran the numbers, we figured that MySpace alone is worth between $3 billion and $20 billion, depending on how much you value each user. Fox Interactive Media (which is mostly MySpace) accounted for about $850 million in revenues last fiscal year (which ended in June), and is projected to hit $1 billion next year.
Three Years Later, Buying MySpace Looks Like One Of Murdoch’s Smartest Bets
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