MySpace’s parent company Fox Interactive Media (FIM) will be shutting down SpringWidgets and Flektor. SpringWidgets was created by FIM in 2006 and Flektor. FIM acquired Flektor around the same time as Photobucket. Between the two companies, there are about 25 employees.
The ten employees of Flektor will have the chance to interview with MySpace. It is unknown what will happen with SpringWidget’s 15 employees in Atlanta. However both of the sites will be shut down for good.
SpringWidgets was a widget advertising platform company and Flektor created special effects for widgets. And as you may know, MySpace users love their widgets which is why FIM probably thought there was synergy there.
It is rumored that FIM paid around $15 million to buy-out Flektor.