New Myspace is about as profitable as old Myspace…
- $25M in 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.
- $50M in 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
November 19, 2012 // 17:02 // 1 year ago