News - 12/02/2016

Remnants of Myspace purchased by Time Inc. via Viant Technology acquisition

Remnants of Myspace purchased by Time Inc. via Viant Technology acquisition

Time Inc. has purchased data-marketing company Viant Technology, and with that it also acquired the remnants of Myspace. 

The social network has been a bit of a hot potato, changing hands a number of times since its heyday, always “scolding” the new buyers by losing them a tonne of money.

News Corp bought Myspace for $580m in 2005, then it was acquired by Viant Technology in 2011 for $35m.

Viant then partnered with Justin Timberlake to re-design and re-launch the platform. In fairness, it was a good effort, but by the time the service launched at SXSW no one really cared, in spite of the fact that signing up to the re-launched service was the only way to enter Timberlake's Austin gig.

What’s most valuable about Myspace is its database of one billion users, which will be undoubtedly put through its paces by Time Inc’s advertising teams in order to squeeze every last bit of viable (if perhaps outdated) information. 

What’s certain is that Time Inc. did not buy Viant for Myspace: the technology company offers a number of marketing and audience tracking tools including an Identity Management Platform, a Media Execution Platform and a Data Analytics Platform, which are much more valuable.  

Time Inc. Chairman and CEO Joe Ripp stated: “This acquisition is game changing for us. Marketers are selecting media partners that have either data-driven capabilities or premium content; we will be able to deliver both in a single platform, and will stand apart from those that offer just one or the other. In other words, we will be able to deliver advertisers’ messages targeted to optimal audiences across all types of devices, along with the ability to measure ROI.”

 

(Andrea Leonelli)

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