In Pictures: When tech empires fall - 10 companies...
Myspace exploded out of the social media gates in the early '00s, blowing past pioneer Friendster and getting a half-billion dollar payday when it was bought by News Corp. What went wrong after that? Just about everything, co-founder Chris DeWolfe later admitted. The ColdFusion codebase, which had made it easy to get the site up and running at first, made it difficult to expand or improve quickly. By joining a mature company rather than taking VC money, Myspace suddenly had to turn a profit, and ended up overdosing on janky looking ads. And a largely baseless panic about sexual predators sent users running into the arms of Facebook.
In Pictures: When tech empires fall - 10 companies and products that dominated... and then didn't