Social Media continues to grow, however we wondered exactly how long does a user look at their social media profile for? We found this interesting Infographic, which gives us a better idea! It gives a break down of the demographics on the planets within social media solar system.
The infographic shows a variety of demographics to demonstrate who’s using social media sites and how long they spend on each.
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The once powerful and global leading social network MySpace has now finally sold after months of online buzz following the declaration from New Corp. that they were ready to sell the site in February this year. It is thought that News corp. will keep a 5-10% stake but will have lost out hugely after purchasing the website for $580 million from its original owners.
The buyers Specific Media scooped up the website for a mere $35 million (approx £22m), a snip for the once dominant social network? Well that will be proven in the coming months. However, if Bebo is anything to go by, the purchasing of once popular social networks could prove to be a poor decision. Bebo sold for whopping $850m to AOL at its peak in March 2008 but sold a year ago for a measly $10m.
It appears that CEO Mike Jones will be leaving the company along with a large number of the current staff, some reports indicating up to 50% of the team could lose their jobs.
“In conjunction with the deal, we are conducting a series of restructuring initiatives, including a significant reduction in our workforce. I will assist Specific with the transition over the next two months before departing my role as MySpace CEO.”
A more interesting rumour is that Justin Timberlake is to take the ownership stake in Myspace as the new owners concentrate on giving the website a core music focus.