Does former MySpace CEO think Facebook’s stock value will last?

No one knows how hard the mighty can fall quite like Mike Jones. Jones was MySpace’s most recent CEO; his job was to assess a faltering social app and see if it was saveable.

Since Jones saw a once-powerful network through a period of layoffs, restructuring, and an eventual sale to an ad network, we wondered how he felt about the IPO of Facebook. After all, Facebook is the app that nailed shut MySpace’s coffin … Continue Reading

Myspace reinvents itself as an “entertainment experience,” with help from Panasonic and Justin Timberlake

Panasonic’s big bet in 2012 is a social network that has been steadily losing cachet since 2008: Myspace.

Panasonic trotted out Justin Timberlake at the Consumer Electronics Show in Las Vegas today to try and bring sexy back to the pioneering website known for social networking, band promotion and really bad web design, all while making Panasonic TVs more integrated into your social life.

The partnership is potentially a reinvigorating shot in the arm for … Continue Reading

StyleCaster grabs $1M from Zynga exec David Ko, Owen Van Natta and others

Fashion-focused media company StyleCaster has raised $1 million in a new bridge round from investors including Zynga chief mobile officer David Ko and Zynga board member and former MySpace CEO Owen Van Natta. The move will help the startup make further inroads with Silicon Alley and Silicon Valley.

StyleCaster’s main web site, Stylecaster.com, and its social channels offer news and features related to style, fashion and celebrities, and the company focuses intently on fostering conversations … Continue Reading

That’s the ticket! Gogobot raises $15M for social travel recommendations

Gogobot has raised an $15 million second round of funding for its social travel search site.

Gogobot recommends travel deals powered by tips from friends and family. It also has an iPhone app that allows people to share their travel experiences and photo “postcards” from their trips.

“We believe the best advice comes from people you trust – people like you – and not from anonymous strangers on the internet,” the company’s website reads.

Documents … Continue Reading

Former MySpace CEO creates startup incubator called Science, invests in former MySpace execs

Former MySpace chief executive Mike Jones announced a new incubator he calls Science today, which he describes as a technology studio for startups looking to grow in Los Angeles. But is Jones giving past MySpace executives a first pass at the money?

“I think science speaks to the theory we’re going after,” said Jones (pictured right) in an interview with VentureBeat. “Scaling these businesses is much more a science than an art.”

Science is aiming … Continue Reading

Myspace clarifies its strategy: wants to be the Hulu of music

Social network Myspace clarified its future strategy of focusing on music at an advertising event Monday.

Myspace’s new owner, Specific Media, said it wants Myspace to become the number one online community music destination — the Hulu of Music, according to a report from All Things D.

Specific Media’s strategy relies on Myspace’s prior licensing agreements with the four largest music labels in the world as well as over 20,000 independent music labels. Myspace will … Continue Reading

Myspace to announce strategy at Advertising Week

Specific Media, the new owner of social networking site Myspace has shifted gears regarding an announcement of the site’s future.

After purchasing Myspace in June for about $35 million, the company announced a mid-August press conference with investor Justin Timberlake to show that the social network still had life in it yet.

Then the company canceled the press event in favor of presenting at Advertising Week in New York, which starts today. Specific Media will … Continue Reading

Myspace delays relaunch event, new design coming next month

The once popular social network Myspace has scraped plans for its summer press event to show off the revamped music-focused version of the site.

The purpose of the event was to show that the social network still had life in it yet, despite much lower traffic numbers and interest from advertisers. Myspace attracted a mere 33 million visitors to the site in August — a 44 percent decline compared to a year ago, according to … Continue Reading

Full of hustle, Los Angeles tech takes on Silicon Valley

L.A. isn’t just a mecca for film and video game studios. In the past three years, the Los Angeles tech scene has evolved from a small cadre of social media-happy party animals to a legitimate and sustainable tech community to rival Silicon Valley.

“Los Angeles is a town that spins a million stories every day,” says local technophile Sean Percival. “It’s the perfect backdrop for a techie looking to tell his or her own … Continue Reading

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Week in review: Google+ invites paused after “insane demand”

Here’s our roundup of the week’s tech business news. First, the most popular stories published by VentureBeat in the last seven days:

Google opens up, then closes Google+ invites due to “insane demand”: If you were desperate to get a Google+ invite, there’s a very good chance you could have landed one Tuesday night as Google gave existing Plus users the ability to invite anyone to test out the service. But the revelry didn’t last … Continue Reading

Justin Timberlake takes a stake in Myspace

Myspace’s new owner, Specific Media, said Wednesday that Emmy- and Grammy-Award winning artist Justin Timberlake will take an undisclosed stake in the newly acquired company.

Timberlake will play a major role in developing the strategy and creative direction of Myspace, according to Specific Media. Both parties plan to unveil details of Myspace’s new direction later this summer.

“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to … Continue Reading

Specific Media acquires Myspace for $35 million

Myspace’s parent company News Corp. has sold the social networking site for $35 million to Specific Media, reports All Things Digital.

The deal will pay out a mix of cash and stock to Specific Media, an online advertising company, with News Corp. retaining about 5 percent of Myspace, according to the report.

Significant cuts to Myspace’s 400-employee staff are expected to follow the sale, according to sources within the company. CEO Mike Jones and other … Continue Reading

News Corp. finalizing $30M sale of Myspace

Myspace’s parent company News Corp. is in the final stages of selling the under-performing social network for $20 – $30 million, reports All Things Digital.

News Corp. is apparently in a rush to complete an acquisition deal by Thursday — its fiscal year-end. The media giant probably doesn’t want MySpace to blemish its 2012 financial records, especially given the lackluster revenue predictions.

Backing up earlier information, the report indicates that significant cuts in staff and … Continue Reading

Myspace laying off 150 employees ahead of company’s sale?

The once great social networking site Myspace is expected to make big cuts to its employee ranks Wednesday, reports Gawker.

TechCrunch later confirmed with sources inside Myspace that the company is laying off at least 150 (37.5 percent) of its 400 remaining employees– with another 150 employees possibly being put on a transition plan while looking for new jobs.

In January, Myspace cut 47 percent of its staff as part of the social networking site’s … Continue Reading

Social gaming company MindJolt’s recent buy churns out its first social game

MindJolt, a social game company headed by MySpace co-founder Chris DeWolfe, has launched its first its first social gaming project built by a company it acquired in April.

The company has released “Mini Café,” a social game built for the iPhone, iPad and iPhone Touch. The game basically revolves around running a restaurant and keeping customers satisfied to increase the restaurant’s reputation. Mini Café players can invite their Facebook friends to their restaurants and “treat … Continue Reading