On August 1st, 2003, the social networking site, Myspace, was launched globally. Myspace was the first social network to reach a global audience, and proved to have a significant influence on technology, pop culture, and music. In July 2005, Myspace was acquired for $580 million by News Corporation, and in June 2006, it became the most visited website in the United States, surpassing Yahoo! and Google. At its peak in April 2008, Myspace had 115 million monthly visitors, but by 2009, the newly emergent FaceBook had gained the same number of vistors, and soon surpassed Myspace, making the beginning of the social network's downfall.
