Once a powerful social network, Myspace laid off 47 percent of its workforce -- about 500 people -- yesterday in what was not the company's first round of pink slips. It's been more than a year since Chase Carey, the COO of News Corp., Myspace's parent company since 2005, announced that he would consider selling the network to an outside party. But nobody has expressed any interest. Widely described as a sinking ship (read more reactions at the Atlantic Wire), Myspace news hasn't always been bad. We've pulled together the (considerable) ups and downs of the site since its launch in August 2003:
August 2003: Myspace birthed from the bowels of eUniverse as Friendster clone.
November 2003: Washington Post runs a story about social networking sites already asking, "Where is the money?"
February 2004: TheFacebook.com launches at Harvard. For the first time ever, poking becomes widespread on the Ivy League campus.
June 2004: Myspace breaks one million unique visitors per month.
October 2004: REM posts album to Myspace, emulating thousands of smaller-name musicians who flocked to the site.
December 2004: San Francisco Chronicle: "Users of Myspace could visit a profile of pop singer Hilary Duff and download three of her songs for free from a page surrounded by a marketing pitch for Secret Sparkle deodorant."