- Intermix Media, parent of MySpace, had a $140 market valuation 11 months ago.
- MySpace had revenues of $6.25 million in the second quarter.
- News Corp buys MySpace for $580 million.
- Google pays News Corp $900 million to replace Yahoo as the exclusive search engine of MySpace.
- Google's stock rose 2.6% on the news. Today the stock is worth $378.
- It's too soon to know numbers for AdSense / AdWords revenue, but millions of clickers has to be good for the bottom line.
Wow! Is this the second coming of 'irrational exuberance?'
- Intermix / MySpace clearly made a bundle.
- News Corp already has a profit of $320 million without even breaking a sweat. Not bad for a couple months work.
- Google is throwing around it's fortune from it's IPO to gain even more market share.
Since they all have made money already on the deals, it's just good business... right?
Add your thoughts.
Donald C. Donzal