Myspace is a social networking service owned by Specific Media LLC and pop star Justin Timberlake. Myspace launched in August 2003 and is headquartered in Beverly Hills, California. In August 2011, Myspace had 33.1 million unique U.S. visitors.
Myspace was founded in 2003 and was acquired by News Corporation in July 2005 for $580 million. From 2005 until early 2008, Myspace was the most visited social networking site in the world, and in June 2006 surpassed Google as the most visited website in the United States. In April 2008, Myspace was overtaken by Facebook.com in the number of unique worldwide visitors, and was surpassed in the number of unique U.S. visitors in May 2009. Since then, the number of Myspace users has declined steadily in spite of several redesigns. As of December 2011, Myspace was ranked 132nd by total web traffic.
In June 2009, Myspace employed approximately 1,600 workers. Since then the company has undergone several rounds of layoffs and by June 2011, Myspace had reduced its staff to around 200.
On June 29, 2011, Myspace was sold to Specific Media and Justin Timberlake for approximately $35 million