Results tagged “theobserver”

Don't worry, yesterday's appearance of eyebrowless bald men in black suits and fedoras is just a viral marketing campaign, but it's one of the more creative and fun ones, worthy of attention.

Last summer Fox's Rupert Murdoch bought LA Internet start-up MySpace for $600 million; now, almost a year later, Fox execs are speculating that the social networking phenomenom is worth about five times that, according to the British site The Observer, which wrote two stories today about the media giant.

MySpace is one of those online places where young people hang out - though 'swarm' might be a more accurate term for the kind of 'social networking' that goes on there. It is fantastically popular with teenagers, who use it to link up with online 'friends'. And it has been growing at internet speed. When Murdoch bought it last July, it had 16 million visitors. By the end of 2005 it had 29 million and currently claims to have 55 million registered users.

Continue reading "MySpace worth $3 Billion?"