MySpace Shuts Down its Office from Netherland
Social Network giant MySpace has recently announced that it will shut down its office to the Netherland since the virtual members and site visitors are low, which has resulted to fewer advertisers and investors.
In February, the company attempted to acquire the country’s leading social networking site Hyves which boasts over 5 million active users that is even more growing. According to the latest survey, more than 30 percent of the population is a registered member of the said social community.
Meanwhile, in an attempt to revive its financial health from this ignominious defeat, the site is planning to set up its new office in Berlin, a move to regain its lost investment from its failed effort to control the market from Holland.
MySpace CEO Chris DeWolfe said that their company is planning to go global by taking over some local social community sites. With the growing popularity of virtual community, the company has also expressed its ambition of spiking up its revenue by embracing or eliminating competition. While its attempt to take control over unfamiliar turf has been quite unsuccessful, the Internet giant is taking another marketing strategy with its plan to launch MySpace Music next year, mainly targeting consumers from European countries.
In 2005, media mogul Rupert Murdoch (owner of News Corp) bought MySpace for $580 million to Intermix Media. This acquisition has made the social networking site the first major Internet purchase by Murdoch who plans to use this as his way to dramatically increase his advertising revenue, which in turn that proves to be right.
According to the latest survey, the site attracts over 230,000 users worldwide, making this company one of the most successful in the Internet field.
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