MySpace on the march

MySpace said over the weekend it's poised to launch localized versions of its service in Canada and Mexico. This ups the total number of foreign versions of the service to 11, reports the Financial Times, with China on deck. The global ambitions of the News Corp.-owned social network are hardly newsworthy, though the strength of its overseas growth is impressive: The FT notes that MySpace "attracts an average of 320,000 new user profiles a day, with 25 per cent coming from outside the U.S." Says one Travis Katz, MySpace's senior vice-president for international operations: "Our international business is becoming an increasingly important driver of growth."

Not bad, and naturally everyone has especially high hopes for the Chinese operation. The subject of much online chatter since the middle of last year, MySpace China is a joint venture between News Corp. (NWS) and the venture group at International Data Group - and perhaps also China Netcom. Expect Mr. Murdoch to be well-informed on the company's progress: his wife Wendi Deng has been on the scene since August and reportedly joined the MySpace China board late last year.
Posted by Oliver Ryan 10:32 AM 0 Comments comment | Add a Comment

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.