Jun 29 - Myspace sold for $35 Million

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 06-29-2011, 05:30 PM         #21
deLeet 
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 xrayvisionmedia said:
If ad revenue was so great why did it sell? You would not sell your cash cow for less than what you paid for it.
But its a dieing cash cow and they probably want to get out of it quick.

By 2011, the number of U.S. visitors to Myspace fell to about 40 million while those visiting Facebook totaled about 150 million, according to online measurement firm comScore.
 6 years ago '04        #22
efromthev 2 heat pts
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 6 years ago '06        #23
illathruz 65 heat pts65
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this is what is going to happen with the rest of these linkedin facebook websites in 5 years. all of these sites are grossly overvalued.
 6 years ago '11        #24
PotheadFocker 169 heat pts169
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 ChiCity Fingaz said:
None of these sites are really safe. There all based on fads. 5 years from now we could be talking about Facebook being obsolete and some new website being the new king. It's a dangerous investment.

I wonder what happened to Tom though after he got all that money
Yeah it kinda seems like tumblr could be humongous. Although at the moment tumblr, FB and twitter seem to be co-existing.
 6 years ago '04        #25
orv 
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It's never coming back. At least money was made from it.
 06-29-2011, 06:50 PM         #26
Liquid Oxygen 
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That's the problem with most social media sites these days. You hear companies snapping them up for 500 million or 1 billion. Many are overvalued. You like at sites like Groupon and wonder how many more years they can last, I for one stopped using it because the market became really diluted and their offers suck 95% of the time.

Will sites such as Twitter be relevant five years from now? Hard to say but I wouldn't put my money on it since you just need something bigger and better to come along.

Facebook keeps changing itself, but even with Facebook, most people I know use it A LOT less than they did 3-4 years ago when it was the new hot thing.
 6 years ago '05        #27
A-Dot 25 heat pts25
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fb wins.....
 06-29-2011, 08:11 PM         #28
BooHaggle McGee 
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 deLeet said:
Myspace made billions since it was sold by tom from ad rev, they accounted to 50%+(around 1billion worth of ads are sold yearly) of advertisement sales on the net back then but yearly it was going down because of facebook, profits in the 400-500million yearly.
how do u kno that?
 6 years ago '04        #29
persuazion 2 heat pts
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Facebook will have the same fate
 6 years ago '04        #30
notoriousthugzz 41 heat pts41
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lol at people thinking they didn't make well over 500 mill in over 6 years and are taking a loss.

I got some magic beans I can sell yall
 06-29-2011, 08:21 PM         #31
BooHaggle McGee 
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 notoriousthugzz said:
lol at people thinking they didn't make well over 500 mill in over 6 years and are taking a loss.

I got some magic beans I can sell yall
"Many would-be bidders were spooked by Myspace's deterioration, including a projected loss of $165 million for the year ending June 30, according to other people familiar with the matter. Various labor, real-estate and music-licensing costs struck some bidders as untenable. News Corp. executives lowered their expectations and focused on pursuing deals they could wrap up by their end-of-June deadline, the people said."


"The deal is a relief for News Corp. and its chief operating officer Chase Carey, who has been frustrated with Myspace's woes and has made fixing the site, and later disposing of it, priorities since he rejoined the company in 2009, according to other people familiar with the matter."




stop tryin to sound like u kno some sh*t, bi*ch n*gga
 06-29-2011, 08:27 PM         #32
bornleader 
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 tdnupe3 said:
They did not lose as much as you think. Remember, they have been getting ad revenue for the last 6 years. I won't get into a finance lecture, but the sale included cash and stock. Not only that, the money they made from the boost in their price per share when they bought myspace more than covers any loss you think they may have incurred on selling this company. Things are much more complicated than a straight "buy-sell". If someone bough it for 580, then sold it a month later for 35, then you could say that they took a major loss. But this is not that cut and dry.
Thank you...Someone with some real sense on Boxden..:dancingcool:
 6 years ago '07        #33
Kinglew88 13 heat pts13
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 persuazion said:
Facebook will have the same fate
I honestly dont see it

fb stays changing and ppl love that sh*t
 06-29-2011, 08:36 PM         #34
Old Man Quillis 
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Myspace is the prime example of why corporate is a sh*tty way to go. It was fine until corporate fu*kers got a hold of it.
 06-29-2011, 08:56 PM         #35
Stayburnin 
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how much did tom make from it?
 6 years ago '08        #36
tdnupe3 9 heat pts
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And just to drop a little nugget on some of you: this is a sign that the new internet stock bubble is about to BURST. These sites are HIGHLY overvalued, and their IPOs do no reflect their true worth. These companies stocks are trading at extremely high volumes before they even turn a profit (linkedin).

Just sit back and watch the fireworks in the coming months......................................
 6 years ago '04        #37
CTre 22 heat pts22
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 Stayburnin said:
how much did tom make from it?
him and his team made money when they sold it to fox.. after that they basically won
 6 years ago '11        #38
wjcorner 3 heat pts
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 xrayvisionmedia said:
If ad revenue was so great why did it sell? You would not sell your cash cow for less than what you paid for it.
diminishing returns...no matter what you're selling, at one point the product is going to mature then decline...personally I think they caught it on the beginning of the decline, but they probably didn't lose money honestly. the numbers myspace was posting was ridiculous.
 6 years ago '04        #39
notoriousthugzz 41 heat pts41
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 notoriousthugzz said:
lol at people thinking they didn't make well over 500 mill in over 6 years and are taking a loss.

I got some magic beans I can sell yall
 BooHaggle McGee said:
"Many would-be bidders were spooked by Myspace's deterioration, including a projected loss of $165 million for the year ending June 30, according to other people familiar with the matter. Various labor, real-estate and music-licensing costs struck some bidders as untenable. News Corp. executives lowered their expectations and focused on pursuing deals they could wrap up by their end-of-June deadline, the people said."


"The deal is a relief for News Corp. and its chief operating officer Chase Carey, who has been frustrated with Myspace's woes and has made fixing the site, and later disposing of it, priorities since he rejoined the company in 2009, according to other people familiar with the matter."




stop tryin to sound like u kno some sh*t, bi*ch n*gga
Youre a fu*king idiot kid. That article you posted has absolutely nothing to do with what we are talking about. That is about losses they took during myspace's decline. They've had the site since 2005. It was until mid 2008 that facebook began to overtake myspace's popularity. They signed a 3 year 900 million deal with google 3 years ago you fu*kin idiot. Not to mention any other deals or revenue coming into them.

What's $900,000,000 - $535,000,000... I'll wait.

stupid fu*k you want them magic beans now?


Last edited by notoriousthugzz; 06-29-2011 at 09:22 PM..
 6 years ago '04        #40
doro85 2 heat pts
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Change the name, jack some fb features.. Boom new trend
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