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News Corp sells Myspace for $35 million, a fraction of the price it paid to buy

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Another Brick
nevada
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News Corp sells Myspace for $35 million, a fraction of the price it paid to buy Empty News Corp sells Myspace for $35 million, a fraction of the price it paid to buy

Post by nevada Wed Jun 29, 2011 6:29 pm

NEW YORK (Reuters) - News Corp has sold Myspace for $35 million, a fraction of what it paid for the once hot social media site even as a new generation of web-based start-ups is enjoying sky-high valuations.

Specific Media, an online advertising company, will acquire Myspace in a deal that caps a tumultuous period of ownership under Rupert Murdoch's News Corp, which swooped in to buy Myspace for $580 million in 2005.

http://news.yahoo.com/news-corp-sell-myspace-35-million-source-184939080.html

Wow!

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Post by Another Brick Thu Jun 30, 2011 1:32 am

just how do these sites make money? i don't use facebook or orkut anymore, but when i was, i saw no advts there. so, how?

Another Brick

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Post by charvaka Thu Jun 30, 2011 1:53 am

Facebook's got ads. No idea how orkut made (any) money.
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Post by doofus_maximus Thu Jun 30, 2011 10:22 am

don't the companies/websites which have FB pages and have followers, have to pay FB to be there. Correct me if I am completely wrong in assuming that. That's one way I guess.
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Post by Propagandhi711 Thu Jun 30, 2011 12:13 pm

zynga's reputed valuation is 15-20 billion - can you imagine that POS making whatever it is they need to make to justify that valuation? facebook around 100 bln? this is the 90s mania being replayed.

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Post by Hellsangel Thu Jun 30, 2011 3:32 pm

Propagandhi711 wrote:zynga's reputed valuation is 15-20 billion - can you imagine that POS making whatever it is they need to make to justify that valuation? facebook around 100 bln? this is the 90s mania being replayed.
Either way Goldman will make a killing!
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