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(ABC News)   Myspace founder claims he was ripped off 20 million dollars when Myspace was sold to News Corp last year. Current mood: Angry >:-O   ( abcnews.go.com) divider line
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11015 clicks; posted to Main » on 06 Oct 2006 at 6:30 PM (10 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



94 Comments     (+0 »)
 


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2006-10-06 05:21:22 PM  
Ha-ha-ha!
 
2006-10-06 05:30:06 PM  
Waaaaaa!!!! F*cking crybaby. You think he cares about the shareholders?
 
2006-10-06 05:30:27 PM  
Has myspace.com made anybody an actual dime yet? I know this is kind of immaterial in this day and age, but have they ever pulled a profit?
 
2006-10-06 05:32:58 PM  
1,200 percent annualized rate

Someone who's smart help me out. Does that basically mean it doubled in size one month?
 
2006-10-06 05:38:13 PM  
A++++++ Submitter. Would vote for again++++
 
2006-10-06 06:25:20 PM  
Wha? Rupert Murdoch screwing someone over? That can't be!
 
2006-10-06 06:33:19 PM  
business is business sir

/u lose
 
2006-10-06 06:35:28 PM  
shareholders=pwned
 
2006-10-06 06:36:20 PM  
Serves him right for unleashing that cavalcade of losers on the world.
 
433 [TotalFark] [BareFark]
2006-10-06 06:36:49 PM  
Won't someone please create an alternative to MySpace and advertise it on Fark's sidebar? I'm so tired of MySpace. Perhaps if there was one just for Christians! O! What a day.
 
2006-10-06 06:38:56 PM  
Brad? wtf. Wasn't it Tom? or was Tom just really popular?
 
2006-10-06 06:39:20 PM  
Narcissistic losers.
 
2006-10-06 06:39:45 PM  
Regardless of the truth of his allegations, there'll be 20 law firms sueing by Monday.
 
2006-10-06 06:40:12 PM  
And the founder of Friendster weeps alone and silently.
 
2006-10-06 06:41:00 PM  
and the sale wouldn't have happened unless the shareholders had voted for it. they did vote for it, so they have no one to blame but themselves.

this is nothing more than a case of seller's remorse. welcome to the world of making deals, asshole.
 
2006-10-06 06:42:28 PM  
myspace is worth $20 BILLION? i don't think i can make fun of it anymore.

/myspace users, another story
 
2006-10-06 06:42:33 PM  
What exactly were these "laws" that were broken? Unless he can quote specific articles and sections and back it up with evidence, it just sounds like he wasn't up to dealing with the big boys and didn't get the deal he wanted.
 
2006-10-06 06:43:14 PM  
This is probably why I'll never be a great investor. If someone had come to me and said that myspace was going to be worth 20 billion dollars someday, I'd have wet myself from laughing so hard.
 
2006-10-06 06:46:52 PM  
Couldn't happen to a nicer bunch of jackasses.
 
2006-10-06 06:47:03 PM  
Hold up...

100,000,000 users...many of which are probably bots.

Explain where $200 a user comes from...thats a lot of free I-Pod suckers...
 
2006-10-06 06:47:11 PM  
Myspace is worth 20 billion just like your shiatbox McMansion in the exurbs is worth 748k.
 
2006-10-06 06:47:35 PM  
How does this site make money? Does it charge for you to tell the world how your cat is silly? Seriously, never MySpaced. Just don't get it. Ad revenue? What?
 
DD0
2006-10-06 06:48:45 PM  
Well the sad thing is he was ripped off a lot more than 20 million and everyone knew it when they said they were selling it for 580 million.

At the time it had roughly 30 million users, 30 million people looking at their site at least once almost daily. 30 million is a fart in the wind now.
 
2006-10-06 06:48:50 PM  
Captain Struggle: myspace is worth $20 BILLION? i don't think i can make fun of it anymore.

That would make it like 1/5th the value of something like IBM. Unlikely tag on that one. He's BSing the numbers.
 
2006-10-06 06:48:59 PM  
Greenspan released the report on Freemyspace.com. It claims that Intermix chief executive officer Richard Rosenblatt knew that Myspace was well on its way to becoming worth far more than but rushed the sale, misleading shareholders to believe that the company was not worth more, so that he could personally make $20 million.>

And you were dumb enough to not believe that, and sold short.

He deservs his profit. You go now.
 
2006-10-06 06:49:05 PM  
Extanium

Brad? wtf. Wasn't it Tom? or was Tom just really popular?


--------------------

I too thought Tom was the founder. I guess Tom is just real popular.
 
2006-10-06 06:49:12 PM  
a $20 billion company that doesn't have revenue ?


wow.


Coming next fall: Bubble 2
 
2006-10-06 06:49:58 PM  
www.bustedtees.com
 
2006-10-06 06:49:59 PM  
bigwoody: 100,000,000 users...many of which are probably bots.

Explain where $200 a user comes from...thats a lot of free I-Pod suckers...


That's only $20 per user, if you believe the "100 million users" hype.
 
2006-10-06 06:50:12 PM  
I went to My Space a few times. I don't understand why that is valuable to anyone. Would someone explain that to me, please.

///in exchange for a clear explanation of My Space, I will explain slashies. I understand them.
 
2006-10-06 06:50:49 PM  
boomaze

Advertising.

The most viewed website in the world + ads on every page = profit.
 
2006-10-06 06:51:16 PM  
HAHA don't care
 
DD0
2006-10-06 06:51:39 PM  
As for those of you who are confused about how myspace makes money, you can start by looking at the ads all over it. Those aren't free.
 
2006-10-06 06:51:46 PM  
There may be a claim for fraud if the CEO deliberately withheld/hid info (as the article claims) in order to induce the shareholders to sell.

/not that I think Greenspan is entitle to anything
 
2006-10-06 06:51:51 PM  
what does MySpace do for people anyways ? is it like everyone gets their own blog ? is that the purpose ?
 
2006-10-06 06:52:26 PM  
Phew...I'm glad there's another MySpace story on Fark. I was getting worried that we weren't going to hit our daily target.
 
2006-10-06 06:52:42 PM  
There's ads there?

WAH! ADS!

/register your ad-blocker
//quit biatching
 
2006-10-06 06:52:59 PM  
Oh, BTW:

"Tom Anderson (born October 13, 1975) is the President of the social networking website MySpace. He founded the site along with CEO Chris DeWolfe." Who the fark is Brad Greenspan?
 
2006-10-06 06:54:12 PM  


As for those of you who are confused about how myspace makes money, you can start by looking at the ads all over it. Those aren't free.


uhm, there aren't any ads on ex-Congressman Mark Foley's MySpace page. wondering why ?

http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&frien​dID=4348 9677
 
2006-10-06 06:55:15 PM  
(remove space in friendID for web page)
 
2006-10-06 06:56:25 PM  
current mood's from livejournal
 
2006-10-06 06:59:26 PM  
As for those of you who are confused about how myspace makes money, you can start by looking at the ads all over it. Those aren't free.

well since it is owned by news corp, and news corp is FOX then probably most of those ads are free. All i see on that site are ads for new fox shows
 
2006-10-06 07:01:41 PM  
Anyone remember ICQ from a few years ago? Anyone still use that site? Doesn't get any press nowadays.
 
2006-10-06 07:04:36 PM  
dbaggins

MySpace gives people an outlet to repost old, trite, and meaningless surveys about things that mean nothing at all.

It also gives juvenile youth an outlet to post and/or blog about illegal or otherwise incriminating activity.

Did I mention the fact that it gives pedophiles easy access to a slew of naive prepubescent children?

That, my friend, is what MySpace does for people.
 
2006-10-06 07:05:57 PM  
Alright. Just spent 5-10 minutes on MySpace. It's farking sad. What am I? Old? I mean it was goddamn assinine. I mean I'm only 33, I'm cool. Right? Christ.
 
2006-10-06 07:07:27 PM  
Greenspan should STFU and GBTW. And thank Rupert Murdoch for taking that nightmare off his hands. 5 years from now, when MySpace is facing $100 billion in lawsuits from all the people who have been stalked, assaulted, raped, impregnated, or otherwise injured "because of MySpace", Greenspan will be singing another tune.

/any relation to Alan?
 
2006-10-06 07:08:18 PM  
jarrett

bigwoody: 100,000,000 users...many of which are probably bots.

Explain where $200 a user comes from...thats a lot of free I-Pod suckers...

That's only $20 per user, if you believe the "100 million users" hype.


20*100,000,000 != 20,000,000,000
 
2006-10-06 07:08:33 PM  
DaveDawg2000


MySpace gives people an outlet to repost old, trite, and meaningless surveys about things that mean nothing at all.

It also gives juvenile youth an outlet to post and/or blog about illegal or otherwise incriminating activity.

Did I mention the fact that it gives pedophiles easy access to a slew of naive prepubescent children?

That, my friend, is what MySpace does for people.


The little I've seen, I believe you are spot on. Good to know people are so shallow that it makes this much money.
 
2006-10-06 07:09:21 PM  
c.myspace.com
">
 
2006-10-06 07:10:58 PM  
Myspace starting making huge revenue after the current owners wisened up and started a market of advertisement excusively for Myspace. Record companies and film production corps. know that their ads will definitely be veiwed on Myspace because it's where everyone is, and they practically shove them down your throat by making exclusive "XMEN 3 LAYOUT FOR YOUR PAGE OMFG!!!" gimmicks.

The deal is done and over. Don't feel that it's fair? Tough! You, sir, suck at teh business.

And, you guessed it, Tom Anderson has no power over Myspace. STFU about Tom and GBTW.
 
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