$25Min funding will be lost by the new Myspace at the end of 2012, following a year of disappointing revenues. The company has lost more than $40 million this year after only raising $14 million in revenue following yet another rebranding.
$50Min new funding will be sought by the current owners, according to leaked documents obtained by Business Insider. The site’s new owners now hope to relaunch the seemingly perma-failed social network as a direct competitor to Spotify or Pandora. We’re sure this will be the plan that ultimately makes Myspace profitable again. source