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MySpace sells for $35 million USD

on June 30, 2011 | MySpace | Comments (0)

MySpace has been sold for $35 million USD to US company – Specific Media (www.specificmedia.com)

According to the press release MySpace is attracting 70 million users to the site, and 20 million of via a mobile devices.

News Corporation purchased MySpace in 2005 for $580 million USD, so this has been a total failure that the site has lost so much of it’s audience, revenue and reputation.

This is similar in ways when AOL purchased Bebo for $850 million, then sold it for $10 million.

Social Media disasters!

This just goes to show how quickly the social landscape can change, especially if product innovations don’t occur.


David Cowling :

Editor and Founder of SocialMediaNews.com.au. I also run a Social Media Agency where I do consulting work and another blog dedicated to Instagram news. Connect with me: Twitter | LinkedIn | Google + or contact me here. Alternatively, you can send me an email at david@socialmedianews.com.au











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