Myspace (stylized as myspace or MySpace) is an American social networking service. From 2005 to 2008, it was the largest social networking site in the world.
|Type of business||Subsidiary|
Type of site
|Available in||14 languages|
|Founded||August 1, 2003|
|Revenue||$109 million (2011 est.)|
|Launched||August 1, 2003|
Myspace was acquired by News Corporation in July 2005 for $580 million, and in June 2006 surpassed Yahoo! and Google to become the most visited website in the United States. The network generated $800 million in revenue during the 2008 fiscal year. At its peak in April 2008, Myspace and Facebook reached 115 million unique users, and Myspace narrowly lost to the newly emerging Facebook in terms of global users. In May 2009, Facebook surpassed Myspace in the number of unique U.S. visitors. Since then, the number of Myspace users has declined steadily despite several redesigns. By 2019, the number of monthly visitors had dropped to 7 million.
Myspace had a significant influence on technology, pop culture and music. It was the first social network to reach a global audience. It played a critical role in the early growth of companies like YouTube, and created a developer platform that launched the successes of Zynga, RockYou, and Photobucket, among others.
In June 2009, Myspace employed approximately 1,600 employees. In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million. On February 11, 2016, it was announced that Myspace and its parent company had been purchased by Time Inc. for $87 million. Time Inc. was in turn purchased by the Meredith Corporation on January 31, 2018.