Amidst the Facebook IPO hysteria, news about another social network slipped quietly under the radar.
Myspace is reportedly relaunching later this year.
Before Facebook’s popularity exploded, Myspace was the go-to social network. At its peak, Myspace had 75.9 million users in the U.S. That user base has since been cut in half, down to about 30 million.
The fall of the once mighty Myspace underscores a critical question: Why does one social network succeed while another fails? Christopher Schneider, a sociology professor at the University of British Columbia says there is no definitive answer.
Myspace, in its heyday, “was the place where people congregated,” Schneider says. “Now Facebook has become powerful because its tentacles are attaching to our daily lives… Read more