Myspace For Sale
I have a strange interest in Myspace. I’ve always been intrigued by it as an example for how successful internet companies can go so wrong, by becoming complacent with product development and innovation. I wrote about it back in 2009 just as Owen Van Natta came in to try to right the ship. Its been a continuous series of missteps since.
The recent redesign did a little to reinvigorate it, but it looks like that ship has sailed. In what is sure to be remembered as one of Rupert Murdoch’s biggest failures, the struggling social network Myspace announced on their recent earnings call that they would be looking to sell the company.
“In an earnings call today, News Corp. officially stated it plans to sell MySpace. During the call, COO Chase Carey said that “now is the right time” to attempt to place the social network “under a new owner.” via Mashable.
It will be interesting to see if any buyers step up to the plate for the company. Clearly it will depend on many factors, the greatest of which is the price that News Corp hopes to get for the struggling company. It is unlikely that it will be as much of a steal as former Aol property Beebo, which was sold as a tax write off for less than $10 million dollars.
Recently its founder Michael Birch rejoined the company as an advisor to try and have another go at the ailing social network. He obviously believes that what was there was great, but was taken into mediocrity by poor management at Aol. In similar fashion, perhaps Chris and Tom will come back to the company after the sale to try and revive their faltering legacy. I’d like to see em try.
