Robert Murdoch bought MySpace in 2005. One year later he incorporated it into Fox Interactive Media. It all peaked out in 2008, and MySpace was getting 76 million visitors a month. In 2009 they brought in about $470 million. This revenue came from advertising.
Suddenly, MySpace was not so cool anymore. The new #1 Social media choice was Facebook. MySpace lost 50% of the monthly visitors and revenues has plummeted to only $34 million. It can change very fast in this business.
People thought that MySpace was a website where spam and crime were rampant. MySpace was losing market shares and Facebook became the new winner. MySpace gave up its user experience and Facebook was better and more secure and clutter free with ads on the sidelines of the user experience.
Facebook celebrated its 10th birthday a few weeks ago, and I`m impressed of what Facebook has been doing so far despite all the negative critics from people who said the company is doomed. We have seen what have happened to others like MySpace. Is Facebook just a part of a social media evolution? The stock is now trading at $69,63%. Up +2,31% yesterday – after WhatsApp news.
|10:00AM ET||Existing Home Sales|
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.