In selling MySpace for US$35m, six years after buying it for US$580m, Rupert Murdoch admitted that he got it wrong. FaceBook rules the social media for now. Six yrs ago, he was hailed as a genius.
Posts Tagged ‘MySpace’
Internet investing: from heloo to zeloo
In Internet on 14/01/2011 at 5:50 amOr the brutality of the Net. Or “Easy come, easy go”.
Remember MySpace? Latest woes – cutting half of staff.
MySpace valuation: That would put the valuation at about $500 million to $1.2 billion–with the lower end being LESS than Rupert paid for it, and the upper end being twice what he paid for it (hardly the steal of the century).
Read more: http://www.businessinsider.com/henry-blodget-myspace-worth-zero-2010-2#ixzz1An0bhJ6J All in US$ and Murdoch paid US$580m for it
Facebook is now valued at US$50bn. But only a few yrs ago MySpace was “valued” at US$65bn, though the foot notes said US$5bn.
