Bebo founders buy website back for just $1 mn

The British couple who sold social networking site Bebo for $850 million (655 million euros) five years ago have bought back the company for just $1 million and say they will relaunch it.

Myspace settles privacy probe with FTC

(AP) -- Myspace, the once mighty social network, settled a privacy investigation by the Federal Trade Commission and agreed to submit to privacy audits over the next 20 years.

Music service gives Myspace second wind

Faded online social network Myspace said Monday it was getting a second wind due to the popularity of a freshly launched online music player.

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MySpace

MySpace is a social networking website with an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos for teenagers and adults internationally. Its headquarters are in Beverly Hills, California, USA, where it shares an office building with its immediate owner, Fox Interactive Media, which is owned by News Corporation. MySpace became the most popular social networking site in the United States in June 2006. According to comScore, MySpace was overtaken internationally by main competitor Facebook in April 2008, based on monthly unique visitors. MySpace employs 1,000 employees, after laying off 30% of its workforce in June 2009; the company does not disclose revenues or profits separately from News Corporation. The 100 millionth account was created on August 9, 2006, in the Netherlands.

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