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A complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site.
The project was overseen by Brad Greenspan (e Universe's Founder, Chairman, CEO), who managed Chris De Wolfe (My Space's starting CEO), Josh Berman, Tom Anderson (My Space's starting president), and a team of programmers and resources provided by e Universe. The company held contests to see who could sign up the most users.
That deal required Myspace to place even more ads on its already heavily advertised space, which made the site slow, more difficult to use, and less flexible.
Myspace could not experiment with its own site without forfeiting revenue, while rival Facebook was rolling out a new clean site design.
At its peak, when News Corp attempted to merge it with Yahoo! Since then, Myspace has seen a continuing loss of membership.
There are several suggested explanations for its decline, 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.
In February 2005, De Wolfe held talks with Mark Zuckerberg over acquiring Facebook but De Wolfe rejected Zuckerberg's million asking price.
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.
Despite over ten times the number of developers, Friendster, which was developed in Java Server Pages (jsp), could not keep up with the speed of development of Myspace and cfm.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.After losing the bidding war for Myspace, Viacom chairman Sumner Redstone stunned the entertainment industry in September 2006 when he fired Tom Freston from the position of CEO.and move it to the head of the pack of social networking websites.A key architect was tech expert Toan Nguyen who helped stabilize the Myspace platform when Brad Greenspan asked him to join the team.