MySpace Goes Up For Sale, The Bidding Begins
Myspace (or should that be My____?) has finally gone up for sale after it’s traffic dropped signifanctly since 2009, losing out to Facebook and relatively new micro-blogging service Twitter. Owned by News Corp, News Corp are aiming to get $100 million out of the sale for which bidding has already started for MySpace, with many potential buyers being competitors including Google, Facebook and Twitter.
News Corp originally acquired MySpace in 2005 for a whopping $580 million. At that time, the year-and-a-half-old Facebook hadn’t even acquired the Facebook.com URL and recorded a net loss of $3.63 million for the whole year. Little did News Corp know however that Facebook started growing rapdily after they acquired their Facebook.com domain, and in late 2009 the traffic for MySpace took a sudden dive and has never recovered.
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