MySpace will sell for as little as $20 million

80 replies
Well, it looks like Myspace finally realized Facebook has completely taken over the social networking market and have decided to throw in the towel

Myspace could go for as little as $20 millions

News Corp. bought it for $580 million and now planning on selling it for $20 millions this week. Do the math on that percentage of loss...They might as well just shut it down completely or give it away for free.
#$20 #million #myspace #sell
  • Profile picture of the author Robert M Gouge
    Pretty crazy, I remember when myspace was the next big thing.
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  • Profile picture of the author yukon
    Banned
    This will be Facebook in less than 10 years, watch & see.

    Why these guys (myspace, facebook, etc...) don't sell out when their sites are in their prime makes no sense to me.

    Nothing on the net last forever...
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    • Profile picture of the author x3xsolxdierx3x
      Originally Posted by yukon View Post

      This will be Facebook in less than 10 years, watch & see.

      Why these guys (myspace, facebook, etc...) don't sell out when their sites are in their prime makes no sense to me.

      Nothing on the net last forever...
      IF Facebook makes bad decisions like MySpace it COULD be them in 10 years. In order to survive, it has to constantly innovate and continually provide value to the end user. Even at a multi-billion dollar valuation, it could be argued that Facebook STILL isn't in its prime, especially when 70,000+ new users are joining it worldwide with each week.

      Facebook has managed to permeate the marketing messages of thousands of companies worldwide. Turn on the television, and you'll see commercials with everyone and their brother encouraging you to "like us on Facebook"...others have become extremely reliant upon Facebook to convey their marketing message. For that reason, I don't think it's in as much danger as you had conveyed in your post.
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    • Profile picture of the author derekwong28
      Originally Posted by yukon View Post

      This will be Facebook in less than 10 years, watch & see.

      Why these guys (myspace, facebook, etc...) don't sell out when their sites are in their prime makes no sense to me.

      Nothing on the net last forever...
      Myspace did sell out at its prime for $580M to New Corp.
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    • Profile picture of the author Brian John
      Originally Posted by yukon View Post

      Why these guys (myspace, facebook, etc...) don't sell out when their sites are in their prime makes no sense to me.

      Nothing on the net last forever...
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      • Profile picture of the author JamesGw
        Originally Posted by B.J. Johns View Post

        I wouldn't even think about counting Yahoo! out. They've made some pretty good moves this past year and could really start putting a dent in Google. I'm glad they've stuck around as long as they have.

        As for Myspace, I don't see how people think it's worth less than $20 million. If they clean it up and start offering some decent services, I think it can start to regain some marketshare. That said, Facebook really did it right. It'll be hard to uproot them at this point because of how much money they're actually making (Myspace never had a great revenue model) and how dependent everyone is on them.
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        • Profile picture of the author Brian John
          Originally Posted by JamesGw View Post

          I wouldn't even think about counting Yahoo! out. They've made some pretty good moves this past year and could really start putting a dent in Google. I'm glad they've stuck around as long as they have.
          i'm definitely not counting them out, ur right, they've done some strong things lately. my point is simply that if u own a 15yo company (internet based company at that) and ur offered some 30+ BILLION dollars, u take it...do not past go, do not collect $200! what u don't do is hold out for another 5B. Yang found that out the hard way when his company's value decreased by half in just a few months.
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  • Wow, That's all I have to say. If you said to investors back during the MySpace boom that one day it would be sold for just $20 Million, they would have laughed at you. It makes me a little sad to see how much it has declined, I remember being on MySpace when I was younger. $20 Million... I know a few successful warriors who could chip in together and make that purchase, haha!
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  • Profile picture of the author J Bold
    Not sure it's even worth that much. Will they be able to make that money back, if investing $20 million?
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    • Profile picture of the author Targeted Traffic
      Well as the saying goes...nothing is constant except change...
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  • Profile picture of the author CPA Andrew
    Google Plus anyone? FB is finished when this goes public.
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    • Profile picture of the author mytoy78
      Originally Posted by CPA Andrew View Post

      Google Plus anyone? FB is finished when this goes public.
      Google are having to fight back somehow...Isn't it there some silly statistic being banded around that 70% of Americans now use Facebook for their news source?

      I must do some reading on Google plus!!!!
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    • Profile picture of the author mytoy78
      Originally Posted by CPA Andrew View Post

      Google Plus anyone? FB is finished when this goes public.
      Google are having to fight back somehow...Isn't there some silly statistic being banded around that 70% of Americans now use Facebook for their first news source?

      I must do some reading on Google plus!!!!
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    • Profile picture of the author Ben Armstrong
      Originally Posted by CPA Andrew View Post

      Google Plus anyone? FB is finished when this goes public.
      FB will decline eventually but I don't see how a +1 button from google is going to be its downfall.
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    • Profile picture of the author That Guy
      Originally Posted by CPA Andrew View Post

      Google Plus anyone? FB is finished when this goes public.
      Haha, I can actually see Google making a social networking site too. I mean it already has the trust of a large portion of the world so the transition might not even take that long.
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  • Profile picture of the author H.Miller
    Wow! That's crazy. I remember when myspace was the place to be. Though I was never a big fan of the site I know many of people who couldn't live without myspace at one point in time.
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  • Profile picture of the author Mark Jordan
    Why invest $20million on a losing site?
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    • Profile picture of the author Ernie Lo
      Originally Posted by Mark Jordan View Post

      Why invest $20million on a losing site?
      Bragging rights me thinks. So they can tell their friends they "own myspace".
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    • Profile picture of the author Fraggler
      Originally Posted by Mark Jordan View Post

      Why invest $20million on a losing site?
      Because they might think it can be made to be worth more? That part's obvious. I doubt they will buy and do nothing else with it.

      Myspace has at least made an attempt to differentiate itself from Facebook when it realised it would lose the social media market. It didn't stick to its losing model and made a shift. It is pretty much a site for musicians and bands now - they focus on a niche.

      Facebook might be popular but the site and user epxerience is poor in my opinion. It isn't user friendly. Myspace seems a lot better; it is definitely a lot better for musicians.

      Myspace probably isn't worth News Limited's time now so they are getting rid of something they don't know how or just can't run. There might be a smart opportunist out there just waiting to pounce.
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      • Profile picture of the author B.Smit
        Originally Posted by Fraggler View Post

        Myspace has at least made an attempt to differentiate itself from Facebook when it realised it would lose the social media market. It didn't stick to its losing model and made a shift. It is pretty much a site for musicians and bands now - they focus on a niche.
        It's been obvious to anyone with half an opinion on these matters that Facebook has won the social networking battle. But Fraggler points out something that might just make $20 million for Myspace a bargain. Someone who knows what they're doing can take the site, move away from competition with Facebook, and cater to a specific niche - like musicians and bands. They can rebrand themselves as not-the-loser-to-Facebook, but *the* social site to be for musicians and bands (to take what seems to be a relevant example of a niche).
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  • Profile picture of the author John Romaine
    I seriously believe too that Mark Zuckerberg thinks Facebook is immune to this type of online evolution. As already said, its just a matter of time.
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    • Profile picture of the author tomewer
      Originally Posted by ramone_johnny View Post

      I seriously believe too that Mark Zuckerberg thinks Facebook is immune to this type of online evolution. As already said, its just a matter of time.
      It does seem that way, doesn't it...I can definitely see Facebook going the way of MySpace.

      I stopped using MySpace when it got ridiculously bloated. Facebook is definitely going that way, and I use it way less than I used to. I never used to be a fan of Twitter, but it is so straightforward and lean.
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      • Profile picture of the author Laurie Rogers
        I stopped using it YEARS ago, too much spammy garbage on there and way too virus prone. And if facebook doesn't start fixing their glitches with their never ending changes ... it will end up the same way ... damn tag spam lol
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  • Profile picture of the author crystalDMP
    I remember the time how it hit the media that news corp. bought myspace. What happened?!
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  • Profile picture of the author Murt@gh
    Don't be surprised to see Facebook to fall to the next best thing, as others have said.. it's only a matter of time..
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  • Profile picture of the author NRC1983
    Originally Posted by Dash Evra View Post

    Well, it looks like Myspace finally realized Facebook has completely taken over the social networking market and have decided to throw in the towel

    Myspace could go for as little as $20 millions

    News Corp. bought it for $580 million and now planning on selling it for $20 millions this week. Do the math on that percentage of loss...They might as well just shut it down completely or give it away for free.
    Ouch. I wonder what the future holds for Facebook?
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  • Profile picture of the author John Romaine
    Possibly the most annoying part of Facebook for me is all those annoying plugins and apps. Farmville this, someone sent you a gift, unlock these answers ....

    blah blah blah

    *click ...close
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    • Profile picture of the author King Louie
      Facebook has become pretty annoying nowadays. It was cool a few years ago. Then they started adding more features that alienate some of their users. For example, that photo "lightbox" viewer feature is disgusting; the old photo viewer is better in my opinion. Add to that the privacy issues and I can see Facebook going the way of Myspace.

      I hope Zuckerberg cashes in before it crashes.
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  • Profile picture of the author harrymcclaire
    haha ya..

    soon facebook will see this.

    you see for advertising people used to go for google.

    now u hear people complaining and going to facebook.

    even google official admit on national tv it was his mistake to take facebook lightly.

    so now facebook is like taking over.

    but soon something else will take over again.

    just like how it took over google and friendster. haha

    i used to remember people around me talking about frenster all day.

    "add me on friendster, add me, add me" then now is "add me on facebook, or accept me on facebook." ghahaha

    how times have changed.
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  • Profile picture of the author tamimabraham
    I am very happy to know that past big fish getting end. Now, A question where these people, who have gathered in myspace or facebook for some entertaining or communicating? Is it a great news for SEO? can we say?
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  • Profile picture of the author PaxstonInAk
    I'll bet "Tom" aka ThomasAnderson myspace founder, is sure happy he sold when he did....lol
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  • Profile picture of the author adrenalinfeed
    LOL $20 millions. That´s not much. I guess it´s a good thing to know when to sell.
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  • Profile picture of the author MarkSherris
    The thing is myspace is sh*t, you can go on and they're still doing the same thing they were doing like 5-6 years ago with a few minor tweaks that they've just copied off other sites like facebook.

    Facebook will have a much bigger lifecycle than other social networking sites because its constantly evolving and more and more people have smart phones and are buying smart phones so they can access facebook on that instead of the web.

    Facebook isn't like other social networking sites though, it's the Google of social networking sites so chances are it's always going to expand into other areas and grow. It'll be around for quite a while yet.

    Also, I can't remember what the percentage is but it's something like 40% of all facebook users access it through their mobiles and they haven't even started to monetize the facebook app yet.

    Mark
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  • Profile picture of the author Deepikarajpal
    every social networking site has life whether it is facebook or myspace and to add more in its life they need to regularly update them so that people stick to them otherwise worst can happen. So facebook also need to do same otherwise they also can meet with this situation
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  • Profile picture of the author Fernando Veloso
    Whats MySpace?

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    People make good money selling to the rich. But the rich got rich selling to the masses.
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  • Profile picture of the author sbucciarel
    Banned
    I can't imagine anyone forking out $20M for it.
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  • Profile picture of the author x3xsolxdierx3x
    I just don't think Facebook will meet the same fate as MySpace unless they make some SERIOUS mistakes....

    Facebook is already intricately woven into the online marketing efforts of tens of thousands of companies and brands. Many have become very reliant upon it.
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    • Profile picture of the author Dash Evra
      Originally Posted by x3xsolxdierx3x View Post

      I just don't think Facebook will meet the same fate as MySpace unless they make some SERIOUS mistakes....

      Facebook is already intricately woven into the online marketing efforts of tens of thousands of companies and brands. Many have become very reliant upon it.
      The marketing tools facebook provided are cool and all but there is a flip side to it. Can't tell you how many times I've logged into Facebook and see my status feed fill with viral fan pages spamming links or notice some virus link going viral etc...

      At the end of the day, average users have the power on deciding whether Facebook survive or not. People go on Facebook to socialize, not to check out the latest product from XYZ company (even thought they willingly "like" the page). As soon as another program that can provide them a better social experience pops up and start to gain some momentum, people will move on from Facebook.
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      • Profile picture of the author BloggingPro
        Originally Posted by Dash Evra View Post

        At the end of the day, average users have the power on deciding whether Facebook survive or not. People go on Facebook to socialize, not to check out the latest product from XYZ company (even thought they willingly "like" the page). As soon as another program that can provide them a better social experience pops up and start to gain some momentum, people will move on from Facebook.
        Bingo!

        Facebook grew in popularity because it did one thing. Allowed people to communicate quickly and in a fun way. This is where Myspace failed miserably.

        Myspace pages were designed to allow you to express yourself, your personality. People left comments, you replied, but having a conversation was very difficult.

        Enter Facebook. Now you can have a conversation, play games with your friends and family, shop for your favorite products/services, make comments on public topics that you are passionate about.

        It's all about sharing. So if something comes a long that makes doing all of that faster, easier, and more fun--well, then Facebook is in trouble.

        Whatever comes next will easily integrate into your mobile device. Much better than any current app today does.
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        • Profile picture of the author Dash Evra
          Originally Posted by BloggingPro View Post

          Bingo!

          Facebook grew in popularity because it did one thing. Allowed people to communicate quickly and in a fun way. This is where Myspace failed miserably.

          Myspace pages were designed to allow you to express yourself, your personality. People left comments, you replied, but having a conversation was very difficult.

          Enter Facebook. Now you can have a conversation, play games with your friends and family, shop for your favorite products/services, make comments on public topics that you are passionate about.

          It's all about sharing. So if something comes a long that makes doing all of that faster, easier, and more fun--well, then Facebook is in trouble.

          Whatever comes next will easily integrate into your mobile device. Much better than any current app today does.
          It seems like Google sees that. Check out the features Google Plus will implant. It is specifically targeting the weak points of Facebook.
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  • Profile picture of the author jimmyloyola
    I have used facebook, orkut, hi5 and myspace. Orkut, hi5 and myspace hit the dust. Fb is still going strong. And I simply don't think fb will go the other way round.

    When compared to other sites, its simply awesome. For a social networking nerd like me, fb is the perfect place. They have some minor issues here and there but will the random person mind? No he won't. Its fun for him and it will be fun for him in the years to come..

    I think only way fb can destroy themselves is by creating a spam robot or something. Its way better than the rest. Until something comes which is way better than fb i don see it crashing
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  • Profile picture of the author jimmyloyola
    I have used facebook, orkut, hi5 and myspace. Orkut, hi5 and myspace hit the dust. Fb is still going strong. And I simply don't think fb will go the other way round.

    When compared to other sites, its simply awesome. For a social networking nerd like me, fb is the perfect place. They have some minor issues here and there but will the random person mind? No he won't. Its fun for him and it will be fun for him in the years to come..

    I think only way fb can destroy themselves is by creating a spam robot or something. Its way better than the rest. Until something comes which is way better than fb i don see it crashing
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  • Profile picture of the author Jamie Charles
    Absolutely Brutal, losing that amount of money is hard to hear about.

    If I was Zuck, I would buy and then turn myspace into a landing page for facebook promotions
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  • Facebook Should purchase MySpace at $20 Million just for bragging rights.
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  • Profile picture of the author brunom
    I actually never used it.

    It should have been sold when it reaches its peak.
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  • Profile picture of the author Victoria Gates
    What is My [____] ?
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  • Profile picture of the author Model2Web
    They should put Tom back in charge

    The new management's philosophy seemed to be "no new benefits and twice the ads". Customers didn't see the value and had perfectly good alternatives.
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  • Profile picture of the author buckeyes09
    Facebook's valued at $50B? Wow.
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    • Profile picture of the author buckeyes09
      Originally Posted by Gordon Gekko View Post

      Well, they're set for an IPO in the first quarter of 2012 which is supposed to put Facebook's value at $100B.
      Get on the boat immediately, and as soon as things start to go under...ABANDON SHIP!
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  • Profile picture of the author fatphotographer
    The thing Facebook has achieved over myspace is that it attracts demographics from all ages and walks of life, myspace was always targeted at youngsters and music lovers (there was never much point for any other bussiness to hold mayspace pages as they never worked well for anything but music.

    As has been mentioned, if whoever buys myspace focuses on music and cleans things up they wil still have a site worth money.
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  • Profile picture of the author GeorgR.
    The site still bled red ink, and for the three months through March, the News Corp. segment housing MySpace lost $165 million, worse than the $150 million loss it posted a year earlier.
    In other words: Even if you'd t get it for free, you would lose MILLIONS.

    As for FB, 10 years are an absurdly long time-frame in the internet world..i personally give it 2 or maybe 3 years max. There is already a tendency that people get fed up with it.
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  • Profile picture of the author NWJewelry
    I imagine it's pretty hard to figure out the exact worth or price of a social media site like myspace and facebook when they are on top. I also feel like FB is leaning more towards a shopping experience these days. I wonder if Google will follow suite.
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  • Profile picture of the author Jonathan Mizel
    Remember that Myspace has pulled in at least $1.2 billion dollars worth of revenue from advertising since News Corp bought them, including a billion dollars from Google alone in their first post-purchase deal. It didn't do that well for Google at all, but News Corp nearly doubled their money in 3 months.

    Now that the life has been sucked out of them (as well as all the cash) it's not a bad time to sell, even at a loss. The thing has been running negative for years from an operational standpoint, and doesn't like like it could ever recover.

    As a News Corp shareholder, I applaud the decision to dump it.

    Jonathan
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  • Profile picture of the author Dash Evra
    I just went to myspace homepage for the first time in years and saw a "connect with Facebook." Hahaha.. Love the irony..
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  • Profile picture of the author m2weblogs
    MySpace finally sold for some $35 million


    "MySpace, a struggling competitor to Facebook, is bought by ad network Specific Media. The $30 million to $40 million price for MySpace is less than what News Corp. had hoped to sell it for."

    csmonitor.com/Business/Latest-News-Wires/2011/0629/MySpace-finally-sold-for-some-35-million
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  • Profile picture of the author Steven Miranda
    I don't think it is even worth that much. Facebook could easily become Myspace with time and it is going in that direction. Another start up will happen soon enough.
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    • Profile picture of the author RevSEO
      Good for them to sell - MySpace was a dying ship that was gouging money at an incredible rate in hopes of turning it around.

      For those that mentioned that Facebook could face the same fate, I'd think twice. Of course someday Facebook may see its demise, but that time isn't even close. The thing that Facebook has, which Myspace doesn't, is a very engaged userbase larger than any other social networking site before.

      Userbase is crucial, as getting users to jump ship is incredibly difficult. The reasons that users jumped ship from Myspace are obvious, and Facebook hasn't gone down that path yet and I don't see them doing that either.
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  • Profile picture of the author Kate Campbell
    I agree that Facebook should purchase Myspace for 20m and then redirect domain.
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  • Profile picture of the author wuken
    wow that is an incredible loss there. I actually thought myspace is a close counterpart to facebook. Anyhow, google is currently starting their new social network. So facebook is not alone.
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    • Profile picture of the author celente
      Originally Posted by wuken View Post

      wow that is an incredible loss there. I actually thought myspace is a close counterpart to facebook. Anyhow, google is currently starting their new social network. So facebook is not alone.
      myspace always had that, well its ok kind of feel.

      Google have been waiting to pounce, they have the traffic and have obvioulsy studied myspace success areas and failures, so i am sure the next thing google will come out with will be bigger than facebook.
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  • Profile picture of the author LarryC
    As it turns out, it was sold for $35 Million to a company called Specific Media, whoever they are. It'll be interesting to see what happens to it, and if it can be revived at all.
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  • Profile picture of the author Michael Daniels
    Who? are they still around... that is so 2003.. haha

    But in fairness, they are the pioneers, and for that, hats off and RIP.
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  • Profile picture of the author christopher jon
    MySpace will sell for as little as $20 million
    I got five on it.
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  • Profile picture of the author dagaul101
    It's a bit sad but it was always on the cards, Myspace hasn't had the same impact for quite sometime, but then 20 million is nothing to be scoffed at
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  • Profile picture of the author andynathan
    I wonder if we could replace Myspace with Facebook in 5 years for this post?
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    • Profile picture of the author x3xsolxdierx3x
      Originally Posted by andynathan View Post

      I wonder if we could replace Myspace with Facebook in 5 years for this post?
      Assuming that Facebook makes good decisions, I REALLY don't think this will be the case.

      The Facebook phenomena is so intricately woven into the marketing messages of tens of thousands of companies in a brilliant manner. I think too many people have become just to reliant upon it for it to fail. I think the likelihood of Facebook failing has gone done significantly, especially since its so firmly embedded into the bottom line of those tens of thousands of companies.
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      • Profile picture of the author Dash Evra
        Originally Posted by x3xsolxdierx3x View Post

        Assuming that Facebook makes good decisions, I REALLY don't think this will be the case.

        The Facebook phenomena is so intricately woven into the marketing messages of tens of thousands of companies in a brilliant manner. I think too many people have become just to reliant upon it for it to fail. I think the likelihood of Facebook failing has gone done significantly, especially since its so firmly embedded into the bottom line of those tens of thousands of companies.
        I don't think it matters much how many companies are using Facebook. Like I previously said, at the end of the day, the average users to decide Facebook's future. They log in to socialize with friends and relatives. Not too see what XYZ company is up to. As soon as something that can offer them a friendlier, easier, more realistic social experience pops up and start to get some momentum, it will go viral and people will slowly leave Facebook. That's what happened on Facebook vS Myspace.
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  • Profile picture of the author gorentals
    Facebook actually does not add very much value for my company. If it went away this month, it would have no real impact on sales.
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    • Profile picture of the author x3xsolxdierx3x
      Originally Posted by gorentals View Post

      Facebook actually does not add very much value for my company. If it went away this month, it would have no real impact on sales.
      Interesting.

      I think the value that companies derive from Facebook is directly related to how much time and effort they invest into cultivating that channel. If a company has very little invested in Facebook, Facebook going away, logically, wouldn't impact them very much. Now, if you said you had a Facebook fan page of 10,000 people, and you weren't able to utilize that in any way to benefit your business, I'd have to think that it may just not be worth it to you to invest anything into it.

      It's possible that Facebook may not be very beneficial to certain niches, however, there are tons and tons of companies out there that do benefit from it.
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  • Profile picture of the author sameerjoad
    Everyone seems to be bashing facebook for this, sure it will happen as it does to all Internet Ventures, but you simply cannot predict when.

    Facebook has done one thing differently and that is the ability to keep its users coming back using various methods from email marketing (feeds), social & gaming apps (farmville, mafiawars) and most importantly giving a new look to socializing. Yes facebook has its faults but i think it will last longer then myspace. Facebook keeps innovating everyday and facebook is integrated everywhere from mobile phones to websites that people use (using connect). This gives more life to facebook's platform and it isn't about the next big thing, its about how long people tolerate something.

    Obviously MySpace fell because of the spam, pedos and music fans, facebook on the other hand started as a fad for students and now has half of the internet population on it. If you think its growth is slow then it is because it has reached its prime.

    How many of you have decided to jump ship before? Now imagine moving all your social contacts (profiles, pictures, videos, messages, chat logs, game datas, etc) and move on to another platform? And the new next big thing will need to be better then facebook in all terms if not equal. If the next big thing comes tomorrow, i might not move because all my friends and my entire social history is on facebook, i simply cannot bother recreating everything.

    Facebook was successful due to its user base of young college students. Just like Myspace which was mostly used by mostly their parents. The only way facebook will die is in 40-50 years when the next big thing comes around and captures the interest of the new generations and facebook fails to capitalize on it just like myspace did few years ago.
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