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Social Networks

News Corp. Looking To Sell MySpace 146

rudy_wayne writes "News Corp. is reportedly trying to sell MySpace for $100 million, a fraction of the $580 million it originally paid for the social network in 2005. Parties interested in acquiring MySpace include private equity firm THL Partners, Redscout Ventures and Criterion Capital, owner of social network Bebo (the company AOL bought for $850 million and then sold for $10 million). Chinese Internet holding company Tencent is also reportedly interested, and so is MySpace co-founder Chris De Wolfe. What's not yet clear is what any of these companies plan to do with MySpace if a sale goes through." This follows news of massive layoffs and a rapidly shrinking userbase in recent months.
Social Networks

Target To Sell Facebook "Credits" As Gift Cards 96

Julie188 writes "Target will begin selling Facebook's virtual currency as gift cards on September 5, becoming the first brick-and-mortar retailer to do so. Facebook Credit gift cards will be available in $15, $25 and $50 denominations at the retailer's 1,750 stores. That's right, you can now spend real dollars to get fake ones so you can buy imaginary items for games like FarmVille, Bejeweled and 150 other FB games or apps. If that interests you, please contact me. I have some swamp land in Florida I'd like to show you."

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