Yesterday one of the leading social networking site myspce.com announced that is is cutting it’s 47% percent or 500 employees to maintain their funding reports, according to the internal reports it is clear that because of major competitors like facebook and twitter it is not able to raise the fund for their promotion and new ventures for targeting even their registered users.
If you looks in the history will find that myspace.com was bought by News Corp. in 580 million dollars in 2005. But due to the growth in facebook around 500 million registered users in last 2 years while myspace got rejection from their registered users also because of not making the changes in their policies and applications to engage the visitors while the facebook and twitter gave a lot of options to take a lot of time from the visitors on the daily basis.
Due to recent changes in the online demand and supply process according to the social media experts is that facebook and twitter made a lot of other options to make interactions instead of chatting or sending messages, they are providing more that imaginations of the users and that’s why they are gaining a lot of coverage in the mass and yeah these supportive services from the successful sites are making change in our personal as well as the professional life at the same time (according to use).
Myspace was not following the need of the users and that’s why the users are not following this business and hence the it is no where infront of the facebook and twitter.
MySpace still exists?
I cannot believe it took so long. MySpace saw a great heyday, but it is over.