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.

Three Key Voluntary Policies for Women

Today 4 in 10 women are the sole or primary breadwinners for their families,¹ and they do more than twice the amount …
Subscribe

Ashley Neal Creates Resources for Success @smallbizatlanta

Ashley Neal believes if you help others get what they want, you'll have what you want. "I really enjoy being a small … More
Editor's Picks

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