On Monday, Myspace announced startling news: 1 million new members have joined in the past month, and the rate of signups has risen to 40,000 per day. Myspace was considered all but dead when Specific Media and singer and actor Justin Timberlake took it off News Corp.’s hands last year. News Corp. took a minority equity stake in Specific Media as part of the deal. Though the financial terms were not disclosed, rumor placed the sale at roughly $35 million — a small fraction of the $580 million News Corp. had plunked down in 2005 when Myspace was still a hot social network.
Loading ...
How MySpace Got Its Groove Back
Posted by: Erika Morphy February 14, 2012 04:55 AMOn Monday, Myspace announced startling news: 1 million new members have joined in the past month, and the rate of signups has risen to 40,000 per day. Myspace was considered all but dead when Specific Media and singer and actor Justin Timberlake took it off News Corp.’s hands last year. News Corp. took a minority equity stake in Specific Media as part of the deal. Though the financial terms were not disclosed, rumor placed the sale at roughly $35 million — a small fraction of the $580 million News Corp. had plunked down in 2005 when Myspace was still a hot social network.