Chris DeWolfe on the Value of Myspace

Myspace was a cultural phenomenon, but you can't roll back to 2006. The world has changed. Companies have reinvented their brands in the consumer-products space or fashion, but I've never really seen that on the Internet.

Before I left Myspace two years ago, I was confident we could turn this ship around. I can't talk about whether we have any interest in buying Myspace now—it's a confidential process—but it's the biggest property for sale at what, in this market, would be a somewhat reasonable price. You always care if there's an asset that you feel is undervalued when you had a plan to develop it. From Day One, I wanted to leave the company on an upside swing. I think I achieved that to a certain degree, but when I left there was unfinished business.