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MySpace Goes Asian

In this modern era, where time is a precious commodity and many people don?t have time to increase their social circles by taking part in hobbies or singles activities, more and more are turning to the internet to find friends and partners. Internet sites allow singles to broaden their social contacts and make friends from all over the globe. The most popular site on the net these days is MySpace, which invites people to view the profiles of others, create their own, and link up with interesting people on the site.

Recently, Japan?s Softbank Corp. and MySpace announced the formation of an equal, joint venture to bring the success of the site to Asia. This type of social networking is becoming increasingly popular in Japan ? it is believed that 10 million users regularly access social sites online. Under the new agreement, both Softcorp and MySpace will invest just over $5-million each in the new venture. The site, to be called MySpace KK, will run independently from the parent company in the United States.

MySpace, owned by Rupert Murdoch?s Group Corporation, already has a broad international operations going. MySpace serves the United Kingdom, Germany, Australia, Ireland and France and the new Japanese site will be another feather in the cap for the company. Yahoo Japan holds 41.9% of Softbank?s shares and US-based Yahoo Inc owns another 33.4%.