I have decided to concentrate on the "MySpace Generation". As part of this I have conducted some background research into the MySpace website. Here's a quick time-line of the most important events:
2002 eUniversal employees with accounts on a networking site called "Friendster" saw it's potential and decided to mimic it.
2003 MySpace was ready to launch, overseen by the eUniverse founder, Brad Greenspan, and managed by Chris DeWolfe, MySpace's starting CEO. Employees of eUniverse were the first MySpace users.
Launched MySpace Records, a new label to discover unknown talent on MySpace music.
2006 Fox announced plans to launch a UK version in a bid to "tap into the UK music scene". It also launched in China. It began to see a strong audience of teenagers. In August, the 100 millionth account was created in Netherlands.
2007 MySpace and Bebo joined a Google led Open Social Alliance alongside Friendster, Hi5, LinkedIn, Pluxo, Ning, SixApart. Facebook remained independent. MySpace was considered the leading social networking site, valued at $12 billion. Launch of MySpace Transmissions, a series of downloadable studio recordings of well-known artists such as James Blunt. MySpace TV, video sharing was made available.
2008 April, Facebook overtook MySpace based on monthly unique visitors, mainly college students. Music page was redesigned with new features.
2010 You were no longer able to listen to full songs, they were replaced with 30-second samples. Other songs were suggested to the user to help in music discovery.
2011 March, it lost 10 million users between January and February and lost advertising long-term deals. In February, the site was put up for sale, estimated worth $50-200 million. On June 29th, it was sold to Specific Media for $35 million plus a 5% stake in Specific Media, Justin Timberlake also took a small stake.
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