Specific Media buys MySpace for 35 million dollars

In 2005 Rupert Murdoch decided to buy MySpace for 530 million dollars. This week News Corp sold MySpace for 35.

MySpace was once in a time one of the most valuable companies in Internet, but when Facebook was born and started growing; MySpace continued living in its world of fame, without any change to go further in its business model.

Now MySpace seems that want continue with the music business, specially with non commercial bands. This is the only business that allowed the company continue till today, even they lost almost all their value as a company.

Internet is a fast changing environment and companies go to to the bottom when they don’t want to keep the pace or they don’t know how to do it.

Tech Market Research

Technova @ Silicon Valley