How much did Justin Timberlake make off of Myspace?
MySpace peaked in 2008 with some 76 million U.S. visitors before losing ground to Facebook. News Corp. sold the company to Justin Timberlake and other investors in 2011 for $35 million.
Why did MySpace shut down?
Once the biggest social media site and acquired for $580 million, MySpace fell from grace due to good competitors and bad management. The demise of MySpace wasnt just down to Facebook being a superior service, though. It was down to mismanagement too. The rise of MySpace can be attributed to timing and accessibility.