MySpace COO Leaves to Start New Biz
March 4, 2009 by Allison Boyer
Filed under Business
Image: MySpace.com
According to Bloomberg.com, MySpace chief operating officer Amit Kapur is leaving the social networking site to start his own company, along with MySpace execs Jim Benedetto and Steve Pearman.
One of the Internet’s most popular websites, especially among teams, MySpace hasn’t been immune to the economic slump, and they’ve been cutting jobs in order to make up for low advertising sales. They’re in fierce competition with Facebook, which had recently been doing better in user statistics.
MySpace is owned by New Corp, and earlier this week, their COO, Peter Chernin also left the company.
In a statement released earlier today, MySpace said:
“We’re incredibly excited to see what this team creates together and wish them the best of luck.”
MySpace co-founders Chris DeWolfe and Tom Anderson say they don’t have intentions to leave, but their contracts will expire in October, so it will be interesting to see what happens at that point. Expiring soon after that is MySpace’s $900 million contract with Google.
