Myspace was acquired by News Corporation in July 2005 for $580 million. From 2005 until 2008, Myspace was the largest social networking site in the world, and in June 2006 surpassed Google as the most visited website in the United States. In April 2008, Myspace was overtaken by Facebook in the number of unique worldwide visitors, and was surpassed in the number of unique U.S. visitors in May 2009, though Myspace generated $800 million in revenue during the 2008 fiscal year. In June 2009, Myspace employed approximately 1,600 workers. In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million, and had reduced its staff to around 200.
Show more