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Why MySpace Failed?

If you were a teenager in the early 2000s, you will remember that there was a site that transformed the concept of social network and became a Web 2.0 banner, in which people stopped, forever, from being passive subjects of information.

It was MySpace, a platform founded in 2003 that freed users from creating a web page, to offer them in return, a profile to which they could print their personality, add friends, photos, music, and their favorite videos.

Quickly, the social network founded by Tom Anderson and Chris DeWolfe showed its genuine musical vocation and it even became the platform that catapulted careers of bands like the Arctic Monkeys.

The News Corp company, owned by media mogul Rupert Murdoch sniffed the success and decided to buy MySpace in 2005 for $580MM. Although six years later he would sell it for only $35MM.

On its way to success, the site surpassed platforms like Google and Yahoo in traffic and attracted five million new members every month.

However, the lack of evolution and vision of its new owners (because it changed hands several times) allowed other competitors to arrive and snatch its reign, turning it into a ghost town that, believe it or not, exists or subsists, until the date.

This is Startup Forensics: MySpace

#slidebean #startups #myspace #startupforensics

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