Myspace used 2 be a relevant social networks where ppl would make kewl, colorful profiles and vibe out with their bffs. The user experience was rlly annoying, aand Facebook was chill, so every1 started using facebook then twitter was chill 2 and some ppl just vibed in 140 characters or less.

ANYWAYS some company bought Myspace 4 $35 million, which is basically a sad, sad disaster bc last time NEWSCORP bought it, it was for $580 million. I wonder where all the valur went?

Closing another chapter on one of the Internet’s most iconic properties, Myspace has been sold to to Specific Media, an advertising network, for $35 million.
Sources close to the situation said the deal is being completed today, although it has not been officially signed. Myspace’s owner, News Corp., will hold on to a very small stake of less than five percent.

Wonder if they posted a bulletin abt it 2 inform users abt the new change in mgmt.

Do twitter and facebook need 2 sell high?
Can I buy Myspace for $1k and a handjob in 2 years?
How much is a site on the internet really 'worth'?

The price is well below the $100 million that News Corp. had been hoping for, and a chasm away from Myspace’s one-time billion valuation.
The deal includes a halving of Myspace’s staff of 400, as well as other cost cuts. It’s likely Jones and other top staff will remain only for an interim period.
News Corp. bought Myspace for $580 million in 2005, and made that back via a lucrative advertising deal with Google when the social networking site was flying high.

Who the eff would buy Myspace? Do they have a pyramid scheme or something?

A Myspace deal would give the company access to data about Myspace users to be used for ad targeting. It also would transform the firm into a media company with its own ad space to sell instead of simply an online ad technology firm that brokers ad space on behalf of other websites.
Specific Media’s executive team includes knowledge of the inner-workings at Myspace, with two executives who previously worked at Fox Audience Network, News Corp.’s online advertising unit that sold ads for Myspace.
Specific Media has raised more than $110 million in funding, closing a $100 million round of financing from private-equity firm Francisco Partners in 2007. Since then, the company has acquired a couple of digital advertising companies, including online video company Broadband Enterprises and an Amsterdam ad technology company.

What is Myspace even good 4??
Who uses Myspace still?
Is Myspace officially a digital graveyard?
Can it overtake FB under new mgmt?
Are all social networks destined 2 die?
What happened 2 Tom? Is he rich or poor?

What can this new company do 2 'save' Myspace?
Are the only ppl who use Myspace these types of scene ppl? [link]