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Shawn Gold, Myspace's former head of marketing and content, said "Myspace went too wide and not deep enough in its product development.

We went with a lot of products that were shallow and not the best products in the world".

Redstone believed that the failure to acquire My Space contributed to the 20% drop in Viacom's stock price in 2006 up to the date of Freston's ouster.

Freston's successor as CEO, Philippe Dauman, was quoted as saying "never, ever let another competitor beat us to the trophy".

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Myspace is a social networking website offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos. In August 2003, several e Universe employees with Friendster accounts saw potential in its social networking features.

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.

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.

Co-founder and CTO Aber Whitcomb played an integral role in software architecture, utilizing the then superior development speed of Cold Fusion over other dynamic database driven server-side languages of the time.