Rupert Murdoch on MySpace: We screwed up
Rupert Murdoch continues to tweet interesting stuff through his Twitter account.
A recent tweet is related to the whole MySpace fiasco that his company went through.
News Corporation acquired MySpace for around USD 580 million. At that time, MySpace was the most popular social network on the web. It was hugely popular in the US market.
But things never got better for the company under News Corporation. Facebook arrived and screwed up things for all the competing services in the social networking market.
News Corporation recently sold MySpace for a major loss.
Rupert had this to say:
Many questions and jokes about My Space.simple answer -we screwed up in every way possible, learned lots of valuable expensive lessons.
— Rupert Murdoch(@rupertmurdoch) January 13, 2012
Too bad he did not even get the name of the service right in his tweet.
It’s Myspace not My Space Rupert, you should know, seeing as you overpaid $580 million for it!. @rupertmurdoch
— Dyl Mei (@dylmei) January 13, 2012