Facebook's IPO hype and post IPO stock nosedive may be driving the headlines but a former leading social media site which saw its star fall after an unfriendly redesign and the appearance of Facebook, is getting ready to return with the help of popstar and actor Justin Timberlake. While in retrospect Myspace's redesign wasn't nearly as user unfriendly as Facebook's recent changes, the site went from one of the most popular destinations on the web purchased for $580 million dollars but sold off for just $35 million a half a decade later (estimated sales price). But the made behind the purchase has a real plan to resurrect Myspace as a go to place for music fans.
PR Week in the UK reports that the new owners are looking for a new PR agency with plans to relaunch the brand. But what would be the focus of the new Myspace? "There's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Myspace has the potential to be that place," Timberlake said last year.
Timberlake and Specific Media acquired Myspace from News Corp last year. You can read more details here.
