Money Matters - Simplified

Good Old MySpace is back

MySpace will be here again, but will the users be enthusiastic about it, given the saturation of options?
MySpace gears up for a relaunch

Good old MySpace is back, this time in a cool new avatar, with a new theme and plenty of interesting features to look forward to.

MySpace is set to release its revamped avatar in some time. Here are few features:

1. Focus on entertaining stuff, like sharing images, videos and music

2. The distracting advertising to go

3. Lighter interface

"Who am I to say I want you back? When you were never mine to give away," are the opening lines of the new theme song launching the revamped site which had once faded away into oblivion after the rise of Orkut and Facebook.

The new MySpace will be more on the lines of Pinterest with a dash of Facebook and Twitter thrown in.

Users interested in getting an account in the perky new MySpace will have to make a request for an invite.

But market experts are neither impressed nor enthusiastic with the return of once popular social networking site. After all, it has tried redesigning itself in the past and failed miserably. Moreover, people are increasingly getting saturated with deluge of such sites and skeptical about their usage.

As per a video released by the company recently, the renewed MySpace will focus heavily on image usage, just like Pinterest, another fast rising social networking site. The interface will be much lighter and the heavy banner advertising that irked many users and hastened its fall will, thankfully be absent.

Shift in focus
By allowing Facebook and Twitter login, the company has indicated that it would not compete directly with these two networking sites. It will focus on entertainment instead, such as sharing photographs, listening to music, playing videos and more.

Backed by international pop icon Justin Timberlake, the once-mighty social network, is trying to stage a comeback. A group of investors, including Timberlake, bought the company from News Corp for a sum of $35 million, which is paltry given that the its peak valuation was $580 million before Facebook shoved it aside.

Perhaps MySpace will need much more than star power of Timberlake to revise its sunk fortunes!