telegraph- The steep decline follows a further round of major redundancies at the start of 2011 and the continued growth of Facebook, which now has 30 million registered users in the UK.
According to the latest comScore figures, MySpace lost 10 million unique users between January and February of this year, going form 73 million to 63 million in a matter of four weeks.
This time last year, when site began the first in a series of major relaunches, MySpace attracted 95 million unique users.
Parent company News Corporation is reportedly still trying to sell off the ailing social network – which had hopes to reinvent itself through its streaming service, MySpace Music and its renewed focus on entertainment content.
At the start of the year Mike Jones, MySpace’s chief executive announced that the company was making 500 staff members redundant and slashing its international operation to a skeleton staff.
News Corporation bought MySpace for $580m (£373m) in 2008. The asset was briefly valued at $12bn when News Corp attempted to merge it with Yahoo in 2007. Shocking, absolutely shocking. Who the fuck still uses MySpace? The story shouldn't be that they lost 10 million users, it should be that they still have 63 million. How pissed would you be if you were News Corporation? Nobody is going to buy this piece of shit. They thought they were getting the steal of the century when they bought MySpace in 2008, now they'd be lucky to trade it for a few cases of Grey Goose and a night with Tila Tequila. Facebook should consider themselves warned. There was a time not that long ago when MySpace was king, and this same collapse could happen to Facebook if something better comes along. It's all about what college kids think is cool, and Facebook may have jumped the shark once your grandma signed up. It's just a matter of time before somebody else creates an easier way to stalk women over the Internet.
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