Myspace President Tom Anderson stepped down while Chris De Wolfe was replaced as Myspace CEO by former Facebook COO Owen Van Natta. meeting in March 2009 over the direction of Myspace was reportedly the catalyst for that management shakeup, with the Google search deal about to expire, the departure of key personnel (Myspace's COO, SVP of engineering, and SVP of strategy) to form a startup.
Furthermore, the opening of extravagant new offices around the world was questioned, as rival Facebook did not have similarly expensive expansion plans yet it still attracted international users at a rapid rate.
Some employees of Myspace, including De Wolfe and Berman, were able to purchase equity in the property before My Space and its parent company e Universe (now renamed Intermix Media) was bought.
In July 2005, in one of the company's first major Internet purchases, Rupert Murdoch's News Corporation (the parent company of Fox Broadcasting and other media enterprises) purchased Myspace for US0 million.
However, the features were often buggy and slow as there was insufficient testing, measuring, and iterating.
Shawn Gold, Myspace's former head of marketing and content, said "Myspace went too wide and not deep enough in its product development.Initially, the emergence of Facebook did little to diminish Myspace's popularity; at the time, Facebook was targeted only at college students.At its peak, when News Corp attempted to merge it with Yahoo! Since then, Myspace has seen a continuing loss of membership, and there are several suggestions for its demise, including the fact that it stuck to a "portal strategy" of building an audience around entertainment and music, whereas Facebook and Twitter continually added new features to improve the social-networking experience. Gittelman suggested that the 0 million three-year advertisement deal with Google, while being a short-term cash windfall, was a handicap in the long run.Within 10 days, the first version of Myspace was ready for launch, implemented using Cold Fusion.A complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site.