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BizReport : Social Marketing : February 04, 2011

MocoSpace interested in MySpace acquisition says CEO

A suitor may be at the door of MySpace. Once talked about as the space to be online, MySpace has fallen on hard times the past couple of years. As Facebook has taken social networking to new heights and Twitter evolved into 140-character free for all, one of the first social networks has hobbled along looking for direction. Recently News Corp expressed interested in selling the space.

by Kristina Knight

myspace-logo.jpgEarlier this week, MySpace COO Chase Carey told investors the company was 'considering new owners'. A News Corp spokesperson said the company was 'assessing possibilities' as Carey mentioned their new structuring made it the right time to look at new options.

Today a potential buyer has come forward: mobile social network king MocoSpace. The company says they are ready to talk about the future of MySpace. In addition to 'typical' social networking - like connecting with friends or sharing information - the site also offers access to music, chatting features, and browser-based social gaming. With three billion page views per month, the site could be part of the answer to MySpace's struggles of late.

"MySpace was a pioneer in the social revolution and we think their business could be paired synergistically with our offerings," said Justin Siegel, MocoSpace CEO. "MocoSpace and MySpace would be a powerful combo in the social networking world.

According to Experian Hitwise, MySpace continued to be the third-highest social network (week ending January 29, 2011). The site held 2% of social network visits behind Facebook (63% share) and YouTube (19% share). Twitter was the fifth highest social network with only a 1% share of visits.

Overall, Facebook and Google continue to fight it out for the top overall website; so far Facebook is winning with a 10% visit share. Google holds a 7.5% visit share. MySpace is far down the list, at number 18, with a 0.33% visit share (All Categories).

Tags: mobile social networking, MocoSpace, MySpace, social marketing, social networks

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