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Information Technology News Murdoch trashes Facebook as MySpace gets out-socialled
Information Technology News Murdoch trashes Facebook as MySpace gets out-socialled | 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.Featured Whitepaper
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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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