Yes, you read that right. Justin Timberlake is bringing MySpace back, after it was revealed that Timberlake was a key player behind the $35m deal for the original social networking site.
The weirdest thing about this is that Timberlake played Facebook investor Sean Parker in
the movie The Social Network. Timberlake took a stake in MySpace along with Irvine-based targeted advertising firm Specific Media.
Last night Specific Media chief executive Tim Vangerhook said the former 'N Sync member will “lead the business strategy” for the pretty much obsolete social
network.
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The original asking price by Rupert Murdoch's News Corporation
was $100M–it was sold for $580M.
In an AdAge interview,
Vanderhook said Timberlake, 30, had put his own money into buying
Myspace and confirmed that Britney's ex-boyfriend will have an office. This makes us think that Starbucks runs to Irvine are in our future…just in case.
In a statement, Timberlake said: “There's a need for a
place where fans can go to interact with their favorite entertainers,
listen to music, watch videos, share and discover cool stuff and just
connect. Myspace has the potential to be that place.
“Art is
inspired by people and vice versa, so there's a natural social component
to entertainment. I'm excited to help revitalise MySpace by using its
social media platform to bring artists and fans together in one
community.”
Specific Media and Timberlake apparently plan to
turn MySpace around by making it “the premiere digital destination for
original shows, video content and music.” Hear that bands? You may not have to migrate your songs after all.
