DeWolfe, MySpace co-founder stepping down
MySpace co-founder Chris DeWolfe will step down soon as the social networking site's chief executive, amid the site's stalled user growth and the rapid rise of rival Facebook.
MySpace owner News Corp. said Wednesday the decision was made by mutual agreement with former AOL Chief Executive Jonathan Miller, who was appointed News Corp.'s chief digital officer April 1.
DeWolfe, 43, helped launch the site in January 2004. He will remain on the board of MySpace China and be a strategic adviser to the company.
Co-founder Tom Anderson, 33, who is every account holder's first friend and acts as its glitch fixer and president, is also in talks about taking a new role. Anderson is being considered for a creative product role that will take him away from his day-to-day responsibilities, said a person with knowledge of the situation.
The person spoke on condition of anonymity because the discussion was confidential.
"Chris and Tom are true pioneers," Miller said in a statement. "Thanks largely to their vision, MySpace has become a vibrant creative community with 130 million passionate followers worldwide."
He said a new management structure will be announced soon.
Wednesday's announcement was apparently rushed out after rumors began circulating online.
Facebook lapped MySpace a year ago in overall users worldwide, and now has 200 million to MySpace's 130 million.
MySpace is still the largest social network in the United States, but membership appears to have stagnated. It had 70 million users in March, down 4 percent from a year ago, according to tracking firm comScore Inc., despite the launch of the MySpace Music service in September.
Meanwhile, Facebook's users in the U.S. rose 72 percent in March to 61 million.
DeWolfe is expected to move onto a new startup, following the path of several executives who left MySpace last month including former Chief Operating Officer Amit Kapur.
Website : www.myspace.com
Location : Beverly Hills, CA, 90048 USA
Founded : January 2004
Market Cap : US$ 580M
MySpace, which launched in January of 2004, is the world’s leading social portal. MySpace empowers its global community to experience the Internet through a social lens by integrating personal profiles, photo sharing, professional and viral videos, blogs, mobile, instant messaging, and the world’s largest music community. MySpace is among the highest trafficked websites in the United States and includes an international network of more than 30 local community sites throughout North America, Latin America, Europe, Asia, and Australia.
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