Move Over MySpace
Wednesday, 21. December 2005 - 4:58 pm
BUSINESS WEEK — Dec 16 — Brad Greenspan started his first business from his dorm room at UCLA and helped launch MySpace in 2003. Today he's backing video based social network site Vidilife,
MySpace for the video crowd. Traffic has been promising so far: 220,000
unique users in October, six weeks after launch in September. A far cry
from MySpace's 24.3 million unique users but not bad for a site with no
marketing. Greenspan was forced from the company he founded, eUniverse,
only months after he spent $1 million to finance MySpace's launch.
Greenspan battled with board members, who changed the company's name to
Intermix Media shortly
after his departure. Among the disputes: restated earnings during his
watch that prompted an informal Securities & Exchange Commission
accounting investigation (now closed) and a temporary delisting of its
stock by NASDAQ. Separately, both the company and Greenspan settled
charges with New York Attorney General eliot spitzer in September that
they inserted spyware on unknowing consumers' Web pages. Neither
admitted guilt. Greenspan twice tried to retake his company in
proxy battles, including a futile gambit in September to trump a $580
million bid by News Corp. He made $47 million from the News Corp.
acquisition. FULL ARTICLE @ YAHOO NEWS