Once again, truth is somehow stranger than fiction.
In the Oscar-nominated film “The Social Network,” actor, singer, and former boy band heartthrob Justin Timberlake portrayed Napster co-founder and former Facebook president Sean Parker.
As MMW reported yesterday, this week at the NExTWORK Conference in New York, the real-life Sean Parker suggested in no uncertain terms that MySpace has become a veritable joke in the world of social networking – having a present value of just over $30 million when it originally sold for $580 million six years ago.
Late Wednesday, however, we learned that Timberlake – playing himself this time, not Sean Parker – made a power-play in the world of social networking and coughed up an undisclosed chunk of cash to purchase a minority stake in MySpace, which just sold to Specific Media for $35 million.
Yes, that’s right… Justin Timberlake now owns a piece of MySpace.
“There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect,” Timberlake said in a statement. “MySpace has the potential to be that place … I’m excited to help revitalize MySpace by using its social media platform to bring artists and fans together in one community.”
“We look forward to partnering with someone as talented as Justin Timberlake who will lead the business strategy with his creative ideas and vision for transforming MySpace,” Specific CEO Tim Vanderhook added.