In Pictures: When Tech Titans Fall from Grace

Here's our list of 14 once-elite tech companies that fell off their pedestals due to unforeseen circumstances, arrogance, ineptitude, or all of the above.

MySpace Between 2004 and 2007, MySpace was a dominant social networking site for people, companies and musicians and one of the most visited sites in the U.S. But in early 2008, Facebook took over social media and proved quicker to innovate. Since being purchased by Rupert Murdoch's News Corp. in 2005 MySpace had become just another Murdoch property. MySpace traffic plummeted and users migrated to Facebook. The company was sold in 2011 and is now owned by Specific Media and Justin Timberlake. Dubbed "New MySpace" the more music-oriented site is hungry for a comeback.

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