MySpace is on a sudden growth spurt, and after the news that the legendary social network added 1 million new users in just one month, it looks like this blogger wasn’t off-base in asking MySpace Chief Operating Officer Chris Vanderhook if challenging Facebook was within the relm of possibility. Here’s my interview at CES Las Vegas:
At its peak MySpace was drawing up to 75.9 million unique users each month, but started losing users and was down to “just” 33 million users.
Tim and Chris Vanderhook teamed with entertainer and investor Justin Timberlake to reinvent and clean-up MySpace, making it more music oriented. That was a smart move because music industry users were already employing MySpace to promote their music – Tim and Chris, and Justin, made a smart read of the market and adjusted to it.
It’s still a long way to go to catch Facebook, but the bet in this space is that MySpace under Tim and Chris can do it.