WHOOPS

With the talks to buy YouTube and FaceBook at a price level of over $1.5 billion each, do the MySpace Cowboys feel like they left money on the table?  A whole lot of money on the table according to a report for eCommerceTimes.com.

MySpace Founder Seeks Probe of Sale to News Corp.

Friday - October 6, 2006

The founder of popular social networking site MySpace.com is claiming the site is worth 100 times what it sold for last year and is prodding federal agencies to probe the sale of the company to Rupert Murdoch's News Corp. News Corp. purchased MySpace last year for US$580 million. Founder Brad Greenspan now says the site is worth at least $20 billion and possibly as much as $30 billion to News Corp. and claims that the timing of the deal and other factors shortchanged shareholders. [More...]

I've got an opinion, (ya think?), the MySpace boys should take their money and run! As late as last night there were "server too busy" errors and all the other technical issues I've pointed out, documented and know about leaves me with the OPINION that MySpace as a software application is worth about a buck fifty. Okay, that might be harsh but I'm still amazed that they got Murdock to pay as much as they did.

Hey guys, you agreed to a price, signed on the dotted line and have been living like heroes ever since. Too late to look back... you got a pile of money, be grateful! Invest it wisely because Microsoft, Google and Yahoo are all going to publish applications that make MySpace obsolete very soon. Again, my opinion based on my observations and the simple logic that if those companies are not planning a competing product, then their marketing and product development teams need to be fired.

That's my opinion.