MySpace appears to be preparing for an exit from China after its CEO left and the company cut about 30 employees from its China staff. From PC World:
An employee at Myspace China reported the staff cuts when asked on Monday. He would not disclose how many employees remain. A Chinese news report, however, said that about two-thirds of the staff had left the office.
The Chinese version of Myspace was launched with a beta version going online in 2007. The site, however, has advertised itself more as a social networking platform for music fans. But it has only become minor player in the country’s Internet scene, according to analysts.
“It’s not a real player, never was,” said Duncan Clark, chairman of Beijing-based technology consultancy BDA. Myspace’s arrival in the country had arrived with much hype, but by then other social networking sites were already scaling up, he said.
Myspace “spent so much time getting shareholders, hiring the people, but they sort of focused on the setup,” Clark said. “They didn’t focus on the market.”
Read more about MySpace in China via CDT.