The new Myspace has had a tough first year and is again looking for funding.
According to Business Insider, a little more than year after Interactive Media Holdings -- which is mostly owned by the Vanderhook family -- took control of Myspace, the company has lost more than $40 million on $14 million in revenue this year.
Myspace expects to lose another $25 million in funding next year, according to the documents. Meanwhile, the company is out looking to raise $50 million in investment, says Business Insider.
Too much shouldn't be made about the losses, as the new Myspace … Read more