While I was away sailing the gorgeous waters of Gocek, MySpace, the media-darling Friendster-killer SNS (NY Times Free Registration required) got acquired by News Corp. for a nice $580m. Congratulations to Redpoint Ventures, and especially Vantage Point, who’d come in earlier, for a nice exit.
Mark Pincus mentions reported revenues of around $9m. If this is true, what really is the asset being sold? I suspect it is the:
b) Attention, and
c) Future loyalty
of the MySpace users, 12-25 year-old music fans. What a miss for MTV Networks… Continuing good news for Craigslist, who enjoys an even broader audience, with the above 3 factors present.
I suspect music is a fairly universal connector. Another I can think of is sports; soccer, to be precise. Will there be a MySpace for sports? Or, is MySpace the MySpace for sports?