Some employees of Myspace, including De Wolfe and Berman, were able to purchase equity in the property before My Space and its parent company e Universe (now renamed Intermix Media) was bought.In July 2005, in one of the company's first major Internet purchases, Rupert Murdoch's News Corporation (the parent company of Fox Broadcasting and other media enterprises) purchased Myspace for US0 million.
Myspace is a social networking website offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos. In August 2003, several e Universe employees with Friendster accounts saw potential in its social networking features.
The group decided to mimic the more popular features of the website.
A key architect was tech expert Toan Nguyen who helped stabilize the Myspace platform when Brad Greenspan asked him to join the team.
Co-founder and CTO Aber Whitcomb played an integral role in software architecture, utilizing the then superior development speed of Cold Fusion over other dynamic database driven server-side languages of the time.
We went with a lot of products that were shallow and not the best products in the world".
The products division had introduced many features (communication tools such as instant messaging, a classifieds program, a video player, a music player, a virtual karaoke machine, a self-serve advertising platform, profile-editing tools, security systems, privacy filters, and Myspace book lists, among others).
While Facebook focused on creating a platform that allowed outside developers to build new applications, Myspace built everything in-house.
Shawn Gold, Myspace's former head of marketing and content, said "Myspace went too wide and not deep enough in its product development.
Within 10 days, the first version of Myspace was ready for launch, implemented using Cold Fusion.
A complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site.
That deal required Myspace to place even more ads on its already heavily advertised space, which made the site slow, more difficult to use, and less flexible.