From Myspace’s Ashes, Silicon Start-Ups Rise – NYTimes.com
IT is hardly uncommon for founders and employees of successful companies to cash in their chips and go on to start other successful companies. Perhaps the best-known example is PayPal, the Web payment service whose leaders went on to found and invest in a bunch of other companies — YouTube, LinkedIn, Yelp, Tesla — and to earn the nickname the PayPal mafia.
In 2007, Chris DeWolfe, left, who was then the chief executive of Myspace, answered questions with Rupert Murdoch of News Corporation at the Web 2.0 conference in San Francisco. News Corporation acquired Myspace for $580 million in 2005 — but sold it for $35 million in 2011.
More recently, the alumni of another Internet company — a social network based in California — have generated an impressive number of spinoffs. But what is notable about these spinoffs is that they have been generated not by a spectacular success, like PayPal or Facebook, but by a distant also-ran: Myspace.