On June 30th, Myspace will cease to exist. Myspace was the original social media site back in 2003 and still attracts millions of users each month. Over the last 2 years Myspace has lost about one million users a month. Owners News Corporation could not find a buyer for the $100 million asking price although it was purchased for $600 million in 2005. The price has been dropping for sometime but no one is interested. No question a victim of the Facebook phenomenon but there was clearly some mismanagement there as well.
I have a Myspace page but stopped using it in 2006.
UPDATE: News Corp finally unloaded the social media site for a paltry $35 million. Ouch!
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