TWITTER AND ELON MUSK IN THE SUMMER OF 2022- By Bernard Bujold -
You win some, you lose some.
It is the thinking of Elon Musk in the Twitter deal!
What is now the future for Twitter?
Maybe like MySpace!
Myspace was launched on August 1, 2003, and the site was the first social network to reach a global audience and had a significant influence on technology, pop culture and music. From 2005 to 2009, Myspace was the largest social networking site in the world.
In July 2005, Myspace was acquired by Rupert Murdoch of News Corporation for $580 million, a very large sum at the time, and in June 2006, it surpassed Yahoo! and Google to become the most visited website in the United States.
It generated $800 million in revenue during the 2008 fiscal year.
At its peak in April 2008, Myspace was equal to Facebook and reached 115 million unique users, but Myspace slowly lost to the newly emerging Facebook in terms of global users. In May 2009, Facebook surpassed Myspace in its number of unique U.S. visitors. Since then, the number of Myspace users has declined steadily despite several redesigns and by 2019, the site's monthly visitors had dropped to only seven million...
In June 2011, Specific Media Group
and Justin Timberlake jointly purchased the company for approximately the very low price of $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 Meredith Corporation on January 31, 2018, and on November 4, 2019, Meredith spun off Myspace and its original holding company and sold it to Viant Technology LLC.
One could predict that the future of Twitter will be similar to MySpace and that it will become a has been of the Internet...
To be continued...
