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Published : April 26, 2007 |
Author : Chief Editor
Category : Headlines | Total Views
: 99 | Unrated
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MySpace China is a locally owned, operated and
managed company that has secured investment from Rupert Murdoch's
MySpace Inc., publisher IDG and China Broadband Capital Partners L.P.,
a fund operated by Edward Tian, the former chief of China Netcom Group.
Social networks like MySpace and Facebook let users
share pictures, music, videos and blogs. Popularized by teenagers
interested in music, MySpace attracted close to 100 million unique
users in March, according to comScore Media Metrics.
China Capital Partners' Luo Chuan, the former head of
Microsoft Corp.'s MSN China, will be the chief executive of MySpace
China.
"Based on the MySpace global brand and technology
platform, we will develop products and features that are tailored to
today's Chinese citizens," Luo said in a prepared statement.
MySpace China faces stiff competition from major
local players including Sina Corp. and Sohu. Sina had 20 percent of
China's online ad market in the first half of 2006, iResearch said.
A representative for MySpace China declined to
specify which of the investors is the controlling shareholder or the
percentage each investor contributed.
The highly anticipated launch is part of MySpace's
aggressive global expansion strategy that has seen the launch of a
division targeting Latin American countries and a U.S. Spanish-language
site this week.
It will operate in about 20 global regions including
Germany, Japan and Spain by the middle of the year. News Corp. struck a
joint venture deal last November with Japan Internet and telecoms group
Softbank Corp. to launch a version of MySpace in Japan.
The China region site is adapted from the U.S.
version but "is not yet optimized to fully meet the needs of Chinese
users and we continue to improve products and services," Luo said.
The new logo for the site is translated as "Friend You. Friend Me."
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