Facebook continues to grow but there is something wrong big time with MySpace. Not only is it lagging behind Facebook but the social network is doing so bad with its traffic that it might actually cost News Corp $100 Million. The once leading social network had signed up a $900 Million ad deal with Google back in 2006. The deal covered up the $580 Million cost of MySpace but that will cost News Corp dearly as it fails to maintain a minimum traffic level. Sadly MySpace is the only entity of News Corp which has registered a very negative output compared to others it owns. So what exactly is going to happen with MySpace? It’s definitely not going to shutdown, but what is going to open up the Pandora box of success for it? Facebook committing suicide perhaps.
Tag Archive: social-networks
An achievement being announced by you is always special, especially if you are a newly appointed COO. That is exactly big for Jason Rosenthal, Ning’s new COO who announced the social networking platform reached 37 million users. Big news but that’s not it as it also boasted on having 1.6 million networks created using its platform. The network has definitely grown exponentially with major partnerships on the way with and how effectively each network has an average of two Ning applications installed. The other major announcement was of the launch of the Appathon contest to bring more developers in the ring to create apps using its platform for developers. And to encourage more developers step up, it will offer $5,000 to the best application [original] plus prizes for the second and third placed application.
Things are quite problematic when it comes to StudiVZ, the German Facebook. It began with allegations that said it copied the Facebook design all the way to falling prey to hacker attacks. However the young hacker who gave StudiVZ a real nightmare by hacking close to 50,000 users’ detail in just a few hours and threatened to sell that information to gangs if not paid the ransom. He was caught, thrown in prison and now he has committed suicide. The guy was found dead in his cell and administration at the prison stated that the accused had shown no intentions to commit suicide. Suspicion and trouble for the social network as it has given many a folks to point fingers at it. Lets see how it all works out and what do investigations have to show up.
Social Media costs Businesses in UK Billions.. why don’t they utilize the time spent online by Employees?
I came across this interesting news which states a survey that firms in the UK continue to take punches from employee’s online activity. These punches have cost these firms an estimated $2.25 Billion a year, thanks to every employee spending an average 40 minutes a week on social networks like Twitter and Facebook. Now to be honest this is just another reason to justify the losses and these social networks have actually given the employees a way to break away from work and actually help them being more productive. I mean employees weren’t much productive either when they spent time smoking away a few minutes every now and then or having lengthened conversations while they just munched some food. At least with this employees can actually enjoy their time at work place by communicating with an old friend somewhere far and actually have a better focus at work, spending a few minutes online.
Wow, its not just the execs that are cut off from the MySpace branches, but so are the products. CEO Owen Van Natta made sure he was vocal about it as he spilled the beans on ripping off major products. Those most probably include Horoscopes, Calendars, Polls and Books. I guess this is all about shrinking the focus of MySpace and pulling it closer to more of an Entertainment social network. It appears that the decision or the plan is the brainchild of Jason Hirschhorn.
The problem with successful brands is that the are always looking for things to improve and beat any competition. We have seen how Facebook has grown exponentially but the social network faces some difficulties in countries outside the US. One of them is Orkut, though the Google owned social network is quite unknown in the US, but that isn’t stopping Facebook from devouring it absolutely. The social network has introduced the Import tool which lets you import your Orkut contacts to your Facebook. Not sure why exactly is Facebook is on the killing spree to eliminate Orkut, which never really stood anywhere in the social scene in the US market. And guess what, this would soon follow the globe and users do love Facebook a lot and with this coming, they would gladly have all their contacts synced at one place. So when exactly is Orkut going to be a nobody in the next few years?
Alliance Health Networks has raised $3.3 Million in its third round of funding. The round was led by Highway 12 Ventures along with participation from EPIC Ventures. Alliance Health operates a number of social networks associated to Health one of which is DiabeticConnect, the largest social network for diabetics. The additional funding will be used to add more health related social networks in the future.
I always use to hear this from my dad ‘You need to have a PR in order to expand’. This was almost 15 years back, when the Web hadn’t really evolved to what it is at present and his PR meant meeting people in real life. I wasn’t into all this, meeting people, chatting with them let alone the idea of using them to expand. Never really understood the idea. But in comes the Boom and we have the Online World, a.k.a Social Networks and I am writing a blog for passion and always on the lookout to expand it to the readers all across the globe. I understand the need to socialize, to build up a PR and the Web has taught me this. Surprising as many a gurus have benefited from the real life PR to grow into what they are on the Web, I am taking a different direction and I bet there are many out there who are doing exactly what I am, perhaps in a much refined manner.
Facebook isn’t just about using the social network from your desktop or a laptop, the social network gets a bulk of its traffic on the move. According to stats the social network has around 65 million users logging onto the social network via mobile devices. Presently Facebook has taken Facebook Connect a step further for the handheld devices a step ahead by bringing it to the Mobile Web. This would let users stream their activity to their Facebook accounts by letting mobile sites using their Facebook IDS to sing in. That’s quite a significant boost in less than a year given that the number was only 20 million in December.
I haven’t been a fan of MySpace primarily because I thought it was like a stew of everything on the web, social network, music site, etc, etc. It’s CEO, Owen Van Natta knows the issues as well and has talked about the recent changes that have been made to draw a clearer image of what MySpace is. In his current email to employees he confirmed another major move within the execs as SVP of product Tom Andrus left MySpace along with Travis Katz. Katz had been a key player in building up its International business as its MD and SVP International. I hope that MySpace gets things framed up to know what it really is after all these years, where it has seen everything from being a leader to trailing Facebook at number two and I almost forgot MySpace changing its logo.