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Open Social was to promote a common set of standards for software developers to write programs for social networks. Google had been unsuccessful in building its own social networking site Orkut in the U. market and was using the alliance to present a counterweight to Facebook.
By late 2007 and into 2008, Myspace was considered the leading social networking site, and consistently beat out main competitor Facebook in traffic.
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.
The My domain was originally owned by Your Z.com, Inc., intended until 2002 for use as an online data storage and sharing site.
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.
Redstone believed that the failure to acquire My Space contributed to the 20% drop in Viacom's stock price in 2006 up to the date of Freston's ouster.
Around that time, specialized social media companies such as Twitter formed and began targeting Myspace users, while Facebook rolled out communication tools which were seen as safe in comparison to Myspace.
Myspace is a social networking website offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos. In August 2003, several e Universe employees with Friendster accounts saw potential in its social networking features.
The group decided to mimic the more popular features of the website.
While Facebook focused on creating a platform that allowed outside developers to build new applications, Myspace built everything in-house.
Shawn Gold, Myspace's former head of marketing and content, said "Myspace went too wide and not deep enough in its product development.
" My Space is now currently one of the fastest growing websites on the Internet, with over 400 million members worldwide.