Parent Company of MySpace, News Corp Acquires BeliefNet
Rupert Murdoch has been making some interesting acquisitions lately.Â His company, News Corporation purchased MySpace a few years ago, is pursuing after Dow Jones,Â was rumored to be in talks with LinkedIn, and has recently acquired BeliefNet.com.Â
Throughout the last few years, MySpace was constantly being criticized for giving kids a way to expose themselves to online predators and some unfortunate circumstances have occurred as a result.Â Interestingly, Facebook’s advertising platform, Beacon has stolen the spotlight for controversy these days.Â Facebook Beacon is the social network’s way of retrieving the online consumer behavior of its users and exploiting it to other users and online retailers.
Beliefnet.com is like a MySpace for religion.Â The social network caters to every major religion.Â Right on the homepage the user is asked whether they are interested in Christianity, Buddhism, Islan, Judaism, Holistic Spirituality, Hinduism, and All Faiths.Â Then the homepage also includes a quote of the day, religion-related headlines, etc.
BeliefNet receives 3.1 million unique visitors per month and won the General Excellence Online Ellie this past May according to Media Bistro.Â A social network was actually built around BeliefNet last month.Â
BeliefNet was stated in 1999 and previously filed a Chapter 11.Â Â Â About 70% of the traffic on the site comes from Christian female with an average age of 35-45.Â The company raised $7 million from SoftBank Capital in 2005 [Source: TechCrunch].Â TechCrunch also reported that sources at Fox Interactive are not familiar with the deal,Â but the official announcement may come from a different News Corp entity later today.ÂThis article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry