TAG | Murdoch trashes Facebook as MySpace gets out-socialled |
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| by Stephen Withers | |
| Monday, 23 June 2008 | |
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Page 2 of 2 A redesign for MySpace has been in progress for some time. For example, a revamped and less cluttered home page design debuted last week. Other changes are expected in the coming months.MySpace was started by Chris DeWolfe and Tom Anderson in 2003. It was bought by Murdoch's News Corp for stunning $US580 million in July 2005. At the time pundits thought Murdoch was crazy, but in October 2006 Google paid $US1.65 billion for video social networking site YouTube. Furthermore, News Corp more than recovered its outlay for MySpace with a search advertising deal with Google that brought in $US900 million. Facebook was started as a college-based social networking site by Mark Zuckerberg at Harvard. At first it was just for college students but it was subsequently opened up to the public. Microsoft bought a 1.6 percent stake in Facebook for $US240 million in October 2007, which at the time valued Facebook at a colossal $US15 billion
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