Today's sale of MySpace highlights the decline of the social media site that Facebook left in its dust.News Corp., which acquired the site several years ago for $580-million (U.S.), sold it today for about $35-million to Specific Media, an ad firm, reports say.MySpace was once wildly popular, but, according to The New York Times, advertisers abandoned it along with its users. Its revenues this year are expected to be just more than $180-million, well below its peak of $605-million.But everyone acknowledges that MySpace was a pioneering venture that brought many to social networking.

Who Voted for this Story



Comments


Log in to comment or register here.

5 Things Your Latino Employees Wish You Understood

Latino employees are the fastest-growing segment of the U.S. workforce – in fact, by some estimates one in three working …
Subscribe

Kelly McCausey @kellymccausey Shows Solo Smarts

Kelly McCausey is used to functioning as the small business equivalent of a one woman show. Her Website SoloSmarts.com … More
Editor's Picks


Did you know you can now post video on BizSugar?
It's time to up your game with video on BizSugar!
Have you tried BizSugar's new video posting feature?
Post your small business video to BizSugar today!