Myspace opens up its doors. It later grew to be the most popular social network at one time, to even surpassed Google as the most visited site in the U.S.. The internet service was founded by Chris DeWolfe and Tom Anderson, and was later acquired by News Corporation in July 2005 for $580 million.
The site started when several eUniverse employees with Friendster accounts saw potential in its social networking features. The group decided to replicate the site. Within just 10 days, the first version of Myspace was ready for launch, implemented using ColdFusion.
To get users on board, eUniverse employees held a contest to see tho could ger the most user sign up. Using their own subscribers, the team was able to get more people to use Myspace. It didn't take along before the social media speared ahead of the competition to even surpass Friendster.
Myspace that had a significant influence on pop culture and music, also 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.
Myspace was purchased by Specific Media Group and Justin Timberlake for approximately $35 million. Under new ownership, the company had undergone several rounds of layoffs.