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The Somalian

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"In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million."

 

 

 

 

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By late 2007 into 2008, Myspace was considered the leading social networking site, and consistently beat out main competitor Facebook in traffic. Initially, the emergence of Facebook did little to diminish Myspace's popularity; Facebook was targeted only at college students initially. At its peak, when News Corp attempted to merge it with Yahoo! in 2007, Myspace was valued at $12 billion.

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