Myspace (stylized as myspace, previously stylized as MySpace) is a social networking service with a strong music emphasis owned by Specific Media LLC and pop music singer and actor Justin Timberlake. Myspace was launched in July 2003 and is headquartered in Beverly Hills, California. In April 2014, Myspace had 1 million unique U.S. visitors.
Myspace was founded in 2003 by Chris DeWolfe and Tom Anderson, and was later acquired by News Corporation in July 2005 for $580 million. From 2005 until early 2008, Myspace was the most visited social networking site in the world, and in June 2006 surpassed Google as the most visited website in the United States.

In April 2008, Myspace was overtaken by Facebook in the number of unique worldwide visitors, and was surpassed in the number of unique U.S. visitors in May 2009, though Myspace generated $800 million in revenue during the 2008 fiscal year. Since then, the number of Myspace users has declined steadily in spite of several redesigns. As of May 2014, Myspace was ranked 982 by total web traffic, and 392 in the United States.

Myspace had a significant influence on pop culture and music and created a gaming platform that launched the successes of Zynga and RockYou, among others. The site also started the trend of creating unique URLs for companies and artists.

In June 2009, Myspace employed approximately 1,600 workers. In June 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million. Under new ownership, the company had undergone several rounds of layoffs and by June 2011, Myspace had reduced its staff to around 200.

Source: Wikipedia