Chris DeWolfe Out As MySpace CEO

Chris DeWolfe, one of the founders of MySpace in 2004, will reportedly step down as the company’s CEO. MySpace, which was a trail blazer in the social networking industry and was once the biggest social network on the internet, has seen its standing slide more and more in recent months.

Facebook has now past MySpace to become the world’s biggest social network. MySpace, which is own by News Corp., is said to have 130 million members. Facebook is said to have more than 200 million members.

DeWolfe is expected to remain with company in another position. Tom Anderson, known to MySpace members simply as “Tom”, is also reportedly going to be re-assigned within the company.

Industry experts blame MySpace lack of innovation over the couple of years as the biggest reason why Facebook has become the preferred social network website on the internet.

Chris DeWolfe (Image: Flickr)