Wednesday, June 29, 2011
Ask yourself, what would you do with 35 million dollar? Well, the corporate giants at an advertising company called Specific Media for just that amount. Not a whole lot if you look at the whole existence of MySpace. The company News Corp. had bought the former Social Networking giant back in 2005 for a whopping 580 Million dollars and this last February it was hoping to tip off the company for barely over 100 Million. So much for high hopes in a future of Web 2.0.
However, something else has come up as a huge spark of excitement for the MySpace company. As the CEO and pretty much most of the staff will be leaving the company in the process of the sale, a certain pop celebrity has bought his way into possibly an executive position of the MySpace company. You may know him as Justin Timberlake, the guy who portrayed the founder of Napster Sean Parker in the Academy film “The Social Network”. Apparently Mr. Timberlake took quite a deal when in talks with Specific Media. According to Chief Executive at Specific Media, Justin Timberlake will be getting his own office at MySpace and a staff of 6 recruits.
Most at the company are saying more information is to be released more into the summer however we can only imagine until then what this will mean for the future of MySpace, what Facebook is looking at this situation with and with what intentions, and will Justin Timberlake be one of the very first Pop-Stars/Actors/Chief-Executives? Only time will tell for us. Until then, keep up with the buzz on MySpace with every other social network besides MySpace.
