Short answers, pulled from the story.
MySpace launched on the 1st of August 2003 and was created by a team of employees at eUniverse rather than a single founder. The team utilized ColdFusion technology to build a working version within ten days to compete with Friendster.
News Corporation purchased MySpace for 580 million dollars in July 2005. This acquisition allowed the media giant to capitalize on internet advertising and drive traffic to other properties while the site grew to 16 million monthly users.
A botched server migration in 2019 caused the loss of all user content from the site's launch until 2015. This event erased over 50 million songs and 12 years of history, though the Internet Archive later recovered 490,000 MP3s known as the MySpace Dragon Hoard.
Facebook surpassed MySpace in the number of unique U.S. visitors by May 2009 after having overtaken it in Alexa rankings by April 2008. The decline was attributed to MySpace's adherence to a portal strategy and a restrictive advertising deal with Google.
Specific Media Group and Justin Timberlake acquired MySpace in June 2011 for approximately 35 million dollars. This price was a fraction of the 580 million dollars News Corporation had paid for the site six years prior.
MySpace set up a developer platform on the 5th of February 2008 that allowed developers to share ideas and write applications using the OpenSocial API. The platform launched with around 1,000 applications and enabled companies such as Zynga, RockYou, and Photobucket to achieve success.