It’s no mystery that MySpace has been in perils for the last few years under News Corp’s umbrella. They just laid off half of their workforce and now it looks like News Corp is already receiving offers, apparently ready to give in. CEO Chase Carey was quoted saying, “the plan to allow MySpace to reach its full potential may be best developed under a new ownership structure.”
As for the sale, Carey said, “The interest to date has ranged from ‘A’ to ‘Z,’ from industry players, financial players to foreign to domestic and that’s without really being out there. It’s sort of incoming, we’re not soliciting anything at this point.”
GoMo News is reporting first that one company interested in that sale is Boston-based MocoSpace. MocoSpace is the first and largest social networking site on the mobile web. In an interview with MocoSpace’s VP of Business Development, Casey Jones, over a year ago today, he described MocoSpace as, “as a mobile web community that allows you to chat and share photos, videos, and music with your friends. You don’t need a smart phone to get going on this site; all you need is access to the mobile web. Basically, if you have the Internet on your cell phone, you’re all set. Like other social networking sites, you’ve got your basic profile picture and information about your relationship status, your school, your birth date, and your interests.”
MocoSpace has about 16 million users and been growing its business model with the sale of virtual goods. The company does have an online presence, but the most valuable aspect is their mobile offerings. MocoSpace last raised $3.5 million in funding back in September, putting their total money raised at $10.5 million.
From the GoMoNews article, MocoSpace CEO, Justin Siegel is quoted saying, “MySpace was a pioneer in the social revolution and we think their business could be paired synergistically with our offerings. MocoSpace and MySpace would be a powerful combo in the social networking world.”
MySpace could certainly benefit from a fast growing social network like MocoSpace, and with Facebook’s continued dedication to mobile in 2011, this could be a match made in heaven.
I know that News Corp is look to shed MySpace, but they did buy it for $500 million in 2005. MocoSpace has only raised $10 million in funding, and I doubt has a couple hundred million in the bank, but we will see. This could be more of a strategic buyout partnership if anything. Stay tuned for more.
Should MocoSpace buy MySpace? Let us know your thoughts in the comments!
