Businesses started by former Myspacers have amassed more than $100 million in venture capital financing.
From Live MINT & WSJ:
“It is hardly uncommon for founders and employees of successful companies to cash in their chips and go on to start other successful companies. Perhaps the best-known example is PayPal , the Web payment service whose leaders went on to found and invest in a bunch of other companies— YouTube , LinkedIn , Yelp , Tesla —and to earn the nickname the PayPal mafia.
More recently, the alumni of another Internet company—a social network based in California—have generated an impressive number of spin-offs. But what is notable about these spin-offs is that they have been generated not by a spectacular success, like PayPal or Facebook, but by a distant also-ran: Myspace…”
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