It’s been a long time coming. But MySpace has finally been sold.
I’ve written before on SmartCompany about some of the troubles the site has faced. But I’ve put up a piece now on five of the biggest failures that led to its downfall. Here’s an except:
Social networking is not a variation on a theme, like mobile payments. It is an entirely new industry, and it was newer still in 2005. News Corp should not have bought the company outright at such an early point in the industry’s history.
This is a pretty sad end to a site that could have been a lot more. There’s enough speculation on the internet right now about this, but I think my piece offers a good perspective. If you want to read it, the full story is available here.