Social Media Networks Facebook Has Outlived: 4 That Are on the Ropes
MySpace (launched in 2003) is often credited as being the original social media network. It was certainly the go-to website for musicians, but by 2008, it had been overtaken by FB and began a rapid decline as users bailed. It seemed doomed, but was sold for $35 million in 2011 by investors including singer Justin Timberlake — if they’d waited a few months, they could have invested in 900,000 or so shares of FB stock instead. MySpace now seems to be combining personal blogging with Pandora (P)-esque Internet radio streaming.
Xanga launched in 1998 and from its roots as a website where users were encouraged to share reviews of movies, books and music, grew into a blogging platform. The social media service relaunched in 2013 as Xanga 2.0, a crowd-funded $48-per-year blogging service.
Diaspora was launched in 2010 as something of an anti-Facebook, a social media service that’s free and distributed — no ownership means no worries about advertising polluting the website. Privacy is also a big deal for Diaspora users with the governing Diaspora Foundation stating: ”In Diaspora you own your data. You do not sign over any rights to a corporation or other interest who could use it.” FB stock has shown no indication that Diaspora’s 200,000 or so users represent any sort of a threat.
Malaysian-based Friendster (launched in 2002) once boasted 100 million users — mostly in southeast Asia. Demolished by FB, it shut down in 2011 but re-opened as a social gaming site, hoping to leverage the love of casual games Facebook users have shown to attract a new wave of members.
Which of these companies will be the next to go? You could place your bets … or you could just use that money to buy FB stock, instead.
More on Facebook’s 10th Birthday
- Facebook Users Are Getting Older … and That’s a Good Thing
- Who Will Be the Facebook of 2024?
- Should You Buy FB Stock? 3 Pros, 3 Cons
As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.