CBS MARKETWATCH — Dec 9 — Intermix Media turns its star property, MySpace.com, into an independent subsidiary with fresh venture-capital backing. Intermix, which owns a number of Web properties, announced Wednesday that Redpoint Ventures invested $4 million. It's not disclosed how much Redpoint is investing in MySpace. If Friendster's $53 million valuation in fall 2003 is any guide, MySpace, with twice as many unique visitors than Friendster had when the social network site was valued, should be worth a lot more.
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Mark Brooks: MySpace has out Friendstered Friendster by empowering its users. In return, they love MySpace.