Facebook & MySpace: A Brief History

From MySpace’s founding in August 2003 to the late-April shakeups.

Last Updated: April 28, 2009 @ 7:38 PM

August 2003: MySpace is founded by Brad Greenspan, Chris DeWolfe, Josh Berman and Tom Anderson.

 

February 4, 2004: Mark Zuckerberg and co-founders Dustin Moskovitz, Chris Hughes and Eduardo Saverin launch "The Facebook" at thefacebook.com.

 

March 2004: Facebook expands from Harvard to Stanford, Columbia and Yale.

 

May 2005: Facebook raises $12.7 million from venture-capital firm Accel Partners and supports 800 college networks.

 

July 19, 2005: News Corp purchases Intermix Media, the owner of MySpace and other sites, for $580 million.

 

April 2006: The company raises $27.5 million from Greylock Partners, Meritech Capital Partners and others.

 

August 7, 2006: Google signs a $900 million with News Corp to provide search and advertising on MySpace and other sites owned by Fox Interactive Media.

 

July 12, 2007: MySpace announces it is outperforming all other social network sites, crossing the 70-million active monthly unique user mark in the U.S.

 

October 2007: Facebook and Microsoft expand their advertising deal to cover international markets and Microsoft takes a $240 million equity stake in Facebook.

 

March 31, 2009: Chief Financial Officer Gideon Yu is out at Facebook, leaving the company to find its third CFO in less than two years.

 

April 2009: Facebook reaches over 200 million active users.

 

April 22, 2009: CEO Chris DeWolfe announces he will be stepping down from the company and will not renew his contract. He will continue to serve on the board of MySpace China and will be a strategic adviser to MySpace.

 

April 24, 2009: Owen Van Natta, previously the Chief Revenue Officer and VP of Operations for Facebook, is named the new CEO of MySpace.

 

April 27, 2009: MySpace’s management team is expanded as Michael Jones is named Chief Operating Officer and Jason Hirschhorn becomes Chief Product Officer.