20 Social Media Networks Facebook Has Outlived

FB stock performance reflects Facebook’s killer instinct

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Social Media Networks Facebook Has Outlived: 4 That Are on the Ropes

Myspace 185 20 Social Media Networks Facebook Has OutlivedMySpace (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.

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As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, http://investorplace.com/2014/02/social-media-networks-facebook-has-outlived-fb-stock/.

©2015 InvestorPlace Media, LLC

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