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Myspace
Myspace (formerly stylized as MySpace, currently myspace; and sometimes my␣, with an elongated open box symbol) is a social networking service based in the United States. Launched on August 1, 2003, it was the first social network to reach a global audience and had a significant influence on technology, pop culture and music. It also played a critical role in the early growth of companies like YouTube and created a developer platform that launched companies such as Zynga, RockYou, and Photobucket, among others, to success. From 2005 to 2009, Myspace was the largest social networking site in the world.
In July 2005, Myspace was acquired by News Corporation for $580 million; in June 2006, it surpassed Yahoo Mail and Google Search to become the most visited website in the United States. During the 2008 fiscal year, it generated $800 million in revenue. At its peak in April 2008, Myspace had 115 million monthly visitors; by that time, the recently emergent Facebook had about the same number of visitors, but somewhat more global users than MySpace. In May 2009, Facebook surpassed Myspace in its number of unique U.S. visitors. Since then, the number of Myspace users has declined steadily despite several redesigns. As of 2019, Myspace had seven million monthly visitors.
In June 2009, Myspace employed approximately 1,600 people. In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million. On February 11, 2016, it was announced that Myspace and its parent company had been purchased by Time Inc. for $87 million. On January 31, 2018, Time Inc. was in turn purchased by Meredith Corporation, and later that year, on November 4, 2019, Meredith spun off Myspace and its original holding company (Viant Technology Holding Inc.) and sold it to Viant Technology LLC.
In August 2003, several eUniverse employees with Friendster accounts saw potential in its social networking features. The group decided to mimic the more popular features of the website. Within 10 days, the first version of MySpace was ready for launch, implemented using ColdFusion. A complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site. The project was overseen by Brad Greenspan (eUniverse's founder, chairman and CEO), who managed Chris DeWolfe (MySpace's starting CEO), Josh Berman, Tom Anderson (MySpace's starting president), and a team of programmers and resources provided by eUniverse. It was during this early period in June 2003, just prior to the birth of MySpace, that Jeffrey Edell was brought on as chairman of parent company Intermix Media.
The first MySpace users were eUniverse employees. The company held contests to see who could sign up the most users. eUniverse used its 20 million users and e-mail subscribers to breathe life into MySpace and move it to the head of the pack of social networking websites. A key architect was tech expert Toan Nguyen, who helped stabilize the platform when Greenspan asked him to join the team. Co-founder and CTO Aber Whitcomb played an integral role in software architecture, utilizing the then-superior development speed of ColdFusion over other dynamic database driven server-side languages of the time. Despite having over ten times the number of developers, Friendster, which was developed in JavaServer Pages (jsp), could not keep up with the speed of development of MySpace and cfm. For example, users could customize the background, look and feel of pages on MySpace.
MySpace originally gained users because of how easy it made to communicate with other users. Before MySpace debuted, many people communicated online through Instant Messaging or IM. However, MySpace got so popular that people started to use MySpace to message people even more than IM. This was especially true in bigger cities that had more people compared to suburbs that still used IM more.
The MySpace.com domain was originally owned by YourZ.com, Inc., intended until 2002 for use as an online data storage and sharing site. By late 2003, it was transitioned from a file storage service to a social networking site. A friend who also worked in the data storage business reminded DeWolfe that he had earlier bought the MySpace.com domain. DeWolfe suggested they charge a fee for the basic MySpace service. However, Greenspan nixed the idea, believing that keeping the site free was necessary to make it a successful community. MySpace quickly gained popularity among teenagers and young adults. In February 2005, DeWolfe held talks with Mark Zuckerberg over acquiring Facebook, but rejected Zuckerberg's offer to sell Facebook to him for $75 million. Some employees of MySpace, including DeWolfe and Berman, were able to purchase equity in the property before MySpace and its parent company eUniverse (now renamed Intermix Media) were bought.[citation needed]
In July 2005, in one of the company's first major Internet purchases, News Corporation purchased MySpace for US$580 million. At the time of the acquisition, the company was seeing 16 million monthly users and was growing exponentially. News Corporation had beat out Viacom by offering a higher price for the website, and the purchase was seen as a good investment at the time. Within a year, MySpace had tripled in value from its purchase price. News Corporation saw the purchase as a way to capitalize on Internet advertising and drive traffic to other News Corporation properties.
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Myspace
Myspace (formerly stylized as MySpace, currently myspace; and sometimes my␣, with an elongated open box symbol) is a social networking service based in the United States. Launched on August 1, 2003, it was the first social network to reach a global audience and had a significant influence on technology, pop culture and music. It also played a critical role in the early growth of companies like YouTube and created a developer platform that launched companies such as Zynga, RockYou, and Photobucket, among others, to success. From 2005 to 2009, Myspace was the largest social networking site in the world.
In July 2005, Myspace was acquired by News Corporation for $580 million; in June 2006, it surpassed Yahoo Mail and Google Search to become the most visited website in the United States. During the 2008 fiscal year, it generated $800 million in revenue. At its peak in April 2008, Myspace had 115 million monthly visitors; by that time, the recently emergent Facebook had about the same number of visitors, but somewhat more global users than MySpace. In May 2009, Facebook surpassed Myspace in its number of unique U.S. visitors. Since then, the number of Myspace users has declined steadily despite several redesigns. As of 2019, Myspace had seven million monthly visitors.
In June 2009, Myspace employed approximately 1,600 people. In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million. On February 11, 2016, it was announced that Myspace and its parent company had been purchased by Time Inc. for $87 million. On January 31, 2018, Time Inc. was in turn purchased by Meredith Corporation, and later that year, on November 4, 2019, Meredith spun off Myspace and its original holding company (Viant Technology Holding Inc.) and sold it to Viant Technology LLC.
In August 2003, several eUniverse employees with Friendster accounts saw potential in its social networking features. The group decided to mimic the more popular features of the website. Within 10 days, the first version of MySpace was ready for launch, implemented using ColdFusion. A complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site. The project was overseen by Brad Greenspan (eUniverse's founder, chairman and CEO), who managed Chris DeWolfe (MySpace's starting CEO), Josh Berman, Tom Anderson (MySpace's starting president), and a team of programmers and resources provided by eUniverse. It was during this early period in June 2003, just prior to the birth of MySpace, that Jeffrey Edell was brought on as chairman of parent company Intermix Media.
The first MySpace users were eUniverse employees. The company held contests to see who could sign up the most users. eUniverse used its 20 million users and e-mail subscribers to breathe life into MySpace and move it to the head of the pack of social networking websites. A key architect was tech expert Toan Nguyen, who helped stabilize the platform when Greenspan asked him to join the team. Co-founder and CTO Aber Whitcomb played an integral role in software architecture, utilizing the then-superior development speed of ColdFusion over other dynamic database driven server-side languages of the time. Despite having over ten times the number of developers, Friendster, which was developed in JavaServer Pages (jsp), could not keep up with the speed of development of MySpace and cfm. For example, users could customize the background, look and feel of pages on MySpace.
MySpace originally gained users because of how easy it made to communicate with other users. Before MySpace debuted, many people communicated online through Instant Messaging or IM. However, MySpace got so popular that people started to use MySpace to message people even more than IM. This was especially true in bigger cities that had more people compared to suburbs that still used IM more.
The MySpace.com domain was originally owned by YourZ.com, Inc., intended until 2002 for use as an online data storage and sharing site. By late 2003, it was transitioned from a file storage service to a social networking site. A friend who also worked in the data storage business reminded DeWolfe that he had earlier bought the MySpace.com domain. DeWolfe suggested they charge a fee for the basic MySpace service. However, Greenspan nixed the idea, believing that keeping the site free was necessary to make it a successful community. MySpace quickly gained popularity among teenagers and young adults. In February 2005, DeWolfe held talks with Mark Zuckerberg over acquiring Facebook, but rejected Zuckerberg's offer to sell Facebook to him for $75 million. Some employees of MySpace, including DeWolfe and Berman, were able to purchase equity in the property before MySpace and its parent company eUniverse (now renamed Intermix Media) were bought.[citation needed]
In July 2005, in one of the company's first major Internet purchases, News Corporation purchased MySpace for US$580 million. At the time of the acquisition, the company was seeing 16 million monthly users and was growing exponentially. News Corporation had beat out Viacom by offering a higher price for the website, and the purchase was seen as a good investment at the time. Within a year, MySpace had tripled in value from its purchase price. News Corporation saw the purchase as a way to capitalize on Internet advertising and drive traffic to other News Corporation properties.