New Myspace is about as profitable as old Myspace…
$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
So yeah, MySpace is getting another reboot. It pains us to say this, but … we might actually use this. Because it’s actually really freaking MOTHER OF GOD I CAN’T BELIEVE THEY PULLED THIS OFF good. (BTW, play a game of “Where’s Justin” when watching this — Justin Timberlake is one of the investors in the site.)
If Kickstarter looked like this, would you use it? A pretty cool coulda-been; on the third anniversary of the increasingly-popular site's launch, the site released some of its earliest design mockups — with the initial spark for the idea coming way back in 2001. The idea is so old that MySpace widgets were pitched at one point. Radical. Check out some of the others; it clearly took a while to kickstart Kickstarter.
My original vision for MS was that everything got better when it was social—so I tried to build all the super popular things used on the web (blogs, music, classifieds, events, photos) on top of MySpace’s social layer. When Yahoo launched 360, MSN launched Spaces, and Google launched Okrut, I was shakin in my boots. But quickly I saw that it’s really hard to layer in social to features after the fact. At MySpace we had the luxury of having social first, and building the products on top of that layer. Then I choked and Facebook realized that vision. ;-)
What a perfect time for this guy to come out of the woodwork.
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