News Corp owned social network MySpace is interested in buying some startups. According to MySpace co-founder and CEO, Chris DeWolfe, the reason is that the startups are running short of money. Six months ago, a company whose worth was between $200 million to $300 million, is now willing to sell for one-tenth of that value due to the current economic crisis.
According to Chris DeWolfe, MySpace CEO:
Certainly we’re interested in expanding in key markets internationally and there may be some opportunities on the music side at some point, but right now we don’t have any particular companies directly in our sights.