MySpace founder speaks on facebooks successPosted: July 6, 2011 | |
You set a business, you are miles away from your competitors. A short distance away a college student chirps away at his computer building something that will grow to dwarf your mega giant.
This was the situation MySpace co founder Tom Anderson faced with the growth of facebook to be the dominant social network site.
Tom Anderson described how he choked when facebook realised his vision for social media.
News Corporation recently sold MySpace to advertising agency Specific Media and Justin Timberlake for $35 million, having paid $580 million to co-founders Anderson and Chris DeWolfe for the formerly most popular social network in 2005.
At it’s height MySpace had 73.6 million users in October 2008, a number that has since dwindled to to 35 million according to the latest figures from ComScore, which tracks the market.
On the other hand facebook is understood to have 600 million registered users.