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Before Facebook, MySpace ruled the internet. โ 300 Million users. โ A $12B valuation. It was the king of social media. But by 2010, it was a relic of the past. What really happened? Here's the untold story behind the fall of MySpace. In 2003, Tom Anderson and Chris DeWolfe launched MySpace, inspired by Friendster and backed by eUniverse. With eUniverseโs resources and a subscriber list of 20 million, MySpace grew rapidly, skipping the โslow growthโ phase. It gained 1 million users in a month and 5 million within nine months, becoming the go-to platform for music and social connections. By 2005, MySpace was thriving, hitting 100 million users and surpassing Google as the most-visited website in the U.S. That year, Facebookโs Mark Zuckerberg offered to sell Facebook to MySpace for $75M, but MySpace declined. Later, News Corp bought MySpace for $580 million, and it seemed like a huge success. But the focus on revenue over user experience caused trouble. Cluttered ads slowed the platform, while Facebookโs clean, simple design attracted users. By 2008, people were leaving MySpace for Facebook. Despite redesigns and efforts to compete, MySpace couldnโt keep up. By 2011, its user base dropped to 37.7 million. News Corp sold it for just $35Mโdown from a peak valuation of $12B. MySpaceโs fall teaches key lessons: 1. User experience should always come first. 2. Donโt prioritize short-term gains over long-term growth. 3. Innovation is criticalโstaying stagnant leads to failure. What if MySpace had bought Facebook in 2005? The social media landscape could have been entirely different. Instead, it remains a reminder of how small decisions can have massive consequences.
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There are more than 378 million Facebook users in India alone, making it the leading country in terms of Facebook audience size. To put this into context, if Indiaโs Facebook audience were a country then it would be ranked third in terms of largest p
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Another story of a failed product by a tech giant! In 2013, Facebook launched Facebook Home, an ambitious project aimed at revolutionizing smartphone interfaces by deeply integrating the social media platform into Android devices. The idea was to tr
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Keeping Users Hooked! ๐ฒ๐ฅ An Engagement Moat ensures frequent and consistent usage by making platforms irresistible. Facebook, Snapchat and TikTok dominate by fostering social interactions, mobile engagement and addictive content. The more users sta
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A North Star metric is a KPI that helps you understand if your business is meeting the expectations of your customers and team. For something to be a North Star metric, it should: ๐นbe One single metric ๐นcontribute to generating income for your bu
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๐ 7 Key Reasons Why Facebook Matters 1. Global Reach: With over 3.065 billion monthly active users as of 2024, Facebook is one of the most widely used platforms globally, making it a critical tool for communication and marketing. 2. Economic Impac
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