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You had a quote about the criticism you received when starting In Grooves. It’s tricky running a business that I know steps on the toes of people I look up to.
A previous company I founded, which had around 0M in sales and was later acquired, was a digital ad network called Ad Brite. Each pageview performed a real-time auction to select the best ad from millions of potential ads—and did this all in less than 50 miliseconds per pageview.
Open Social was to promote a common set of standards for software developers to write programs for social networks. Google had been unsuccessful in building its own social networking site Orkut in the U. market and was using the alliance to present a counterweight to Facebook.
By late 2007 and into 2008, Myspace was considered the leading social networking site, and consistently beat out main competitor Facebook in traffic.
Freston's successor as CEO, Philippe Dauman, was quoted as saying "never, ever let another competitor beat us to the trophy".
Redstone told interviewer Charlie Rose that losing My Space had been "humiliating", adding, "My Space was sitting there for the taking for 0 million" (Myspace was sold in 2012 by News Corp for million.) On November 1, 2007, Myspace and Bebo joined the Google-led Open Social alliance, which already included Friendster, Hi5, Linked In, Plaxo, Ning and Six Apart.