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Showing posts with label internet Infographic. Show all posts
Showing posts with label internet Infographic. Show all posts

June 2, 2011

April 27, 2011

The End Of MySpace ...Up for Sale

The  MySpace story finally seems to be over ... Officially the end of MySpace is near as it goes up for sale..News Corp.’s auction of the once-mighty social networking site is coming to a close, with the media giant expected to receive bids by the end of the week.Reports suggests that  MySpace is expected to fetch $100million which is less than a fifth of the $580 million that Rupert Murdoch paid for the site six years ago.

News Corp is expected to sell all or part of its social networking site for around $100 million. The Rupert Murdock-controlled News Corp had bought MySpace for over $580 million in 2005.

However this " acquisition" by News Corp was never able to live up to its expectation and since then the company has fallen on hard times by pretty much any Web metric one looks at. It has lost active users, traffic, and, consequently, ad revenue.MySpace users began abandoning ship for Facebook and, in late 2009, site traffic took a dive from which it never really recovered. By 2010, even relative upstart Twitter was getting more traffic than MySpace.

The company’s unique visitor count dropped 49% from this time last year, and in Q4 of 2010 MySpace lost $156 million. Even its core users and traffic creators—bands and music fans—have abandoned the site, as evidenced by the avoidance of by music industry startups like social ticket agent Ticketfly.”

News Corp is reported to have received offers from nearly half-a-dozen venture capitalists and other companies, including Redscout Ventures, Thomas H Lee Partners, and Criterion Capital Partners LLC for MySpace.Reports also said News Corp had separate talks with Chinese internet holding company Tencent for a deal while MySpace co-founder Chris De Wolfe has also shown interest in the site.