Co-founder Tom DeWolfe stepped down today as CEO of Myspace according to parent company News Corporation in a press release. DeWolfe will remain on the board of Myspace China and acting advisor. Co-founder Tom Anderson was also announced to be stepping down as President.
Jonathan Miller, digital officer for News Corporation announced that a new management structure will be in place soon. Rumours are circulating that Owen Van Natta, a former Facebook COO is inline to be replacing DeWolfe.
In 2003, Anderson and DeWolfe launched Myspace while working for eUniverse. They successfully grew Myspace into being one of the most valuable properties on the Internet with over 130 million users. Each user spends roughly 400 minutes a month on the site doing everything form chatting with friends to watching video entertainment.
Purchased in 2005 by Rupert Murdoch's News Corporation for $580 million, Myspace has lost visitor traffic as competitor Facebook overtook them last year. However, it is of my view that both Internet portals are showing signs of slowdown in growth and perhaps on the road to being passing fads of this decade, just how like Friendster went away.
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No don't go Tom!
Please don't leave Myspace! We love you Tom!
wow just read your bulletin post
The founders of Myspace leaving isn't going to change the place is it? I sure hope not! If Tom goes it won't be the same!
Tom wont leave
News corporation will do everything they can to keep him because if they don't, there will be member backlash. They'll leave him on in a lesser, more public role.