From MySpace to YourSpace - New York Times

Maybe not the coolest, but still very successful

The world’s largest social networking site, MySpace has grown far past being merely “a place for friends,” as its slogan states. With an estimated 110 million monthly active users, MySpace is undeniably a powerful tool for advertisers who seek reach and efficiency.

Richard Greenfield, a media analyst for Pali Research, called MySpace a fantastic acquisition from a return-on-investment standpoint. The site was sold for $580 million; Mr. Greenfield said it was expected to have around $800 million in revenue in fiscal 2008, mostly through advertising.

From MySpace to YourSpace - New York Times