Myspace, the popular social networking platform, is making a comeback on the world’s stock markets. In August of 2017, the company announced it was selling 250 million shares, and these shares were listed on the Nasdaq stock exchange. This marks the first time the company has returned to the public markets, and it is an exciting time for investors. Furthermore, the sale of these shares has created a new wave of interest in investing in Myspace. In this article, we will discuss the background and context of the company’s return to the stock market, and what investors can expect from the Myspace shares.
Background of Myspace
Myspace was founded in 2003, and quickly gained traction as a popular social networking site. By 2006, the company had become the leading social networking platform in the United States. The company was sold to News Corp in 2005 for a reported $580 million. News Corp spun off Myspace into an independent company in 2011, and the company was acquired by Specific Media in 2011. In 2016, the company was acquired by Time Inc, the parent company of Time, Sports Illustrated, and People magazines.
At its peak, Myspace was valued at over $12 billion. The company has since declined in users and value, but it still maintains an important presence in the social networking sphere. Despite its decline, Myspace has retained a strong user base, and the platform continues to prove valuable to its users.
IPO of Myspace
Myspace announced in August of 2017 that it was selling 250 million shares on the Nasdaq stock exchange. This marks the company’s return to the public markets. The listing of these shares is seen as a major milestone for Myspace, and an indication of the company’s new focus on the public markets. The listing of the shares was made possible due to the company’s acquisition by Time Inc. in 2016.
The Myspace share price has been set at $25 per share, and the company has raised over $6 billion in capital through the IPO. The company plans to use the money to expand its operations, and to attract new users to the platform.
Investment in Myspace
The listing of Myspace shares on the Nasdaq exchange has been well-received by investors. The stock has seen a strong surge in trading volume, and many investors are beginning to see the company’s potential as a valuable investment.
Investors can expect to see a steady appreciation of the stock price over time. Myspace is investing heavily in its platform and attracting new users, and these efforts are expected to generate favorable returns for investors in the coming years. Furthermore, Myspace has a strong presence in the social networking industry, and its user base is expected to remain strong.
Lafayette Broadcast & Cable
Lafayette Broadcast & Cable is one of the largest cable television providers in the United States. The company is owned by Time Inc., and is one of the company’s most important assets. Time Inc. purchased Lafayette Broadcast & Cable in 2015, and the company is now a major player in the cable television industry.
The company provides services to millions of customers across the United States, and it is a major source of revenue for Time Inc. Lafayette Broadcast & Cable has experienced significant growth in the past few years, and it is an important part of Time Inc.’s portfolio.
Conclusion
Myspace has experienced a major resurgence in the public markets. The company announced the listing of 250 million shares on the Nasdaq stock exchange, and this marks its return to the public markets. Investors are beginning to see the potential of Myspace as an investment, and the company is investing heavily in its platform and user base. Additionally, Lafayette Broadcast & Cable is a major asset of Time Inc., and provides services to millions of customers across the United States. The listing of Myspace shares represents an exciting opportunity for investors, and is expected to lead to strong returns in the coming years.
