Myspace quickly gained popularity among teenage and young adult social groups. In February 2005, DeWolfe held talks with Mark Zuckerberg over acquiring Facebook but DeWolfe rejected Zuckerberg’s $75 million asking price.
Some employees of Myspace, including DeWolfe and Berman, were able to purchase equity in the property before MySpace and its parent company eUniverse (now renamed Intermix Media) was bought. In July 2005, in one of the company’s first major Internet purchases, Rupert Murdoch’s News Corporation (the parent company of Fox Broadcasting and other media enterprises) purchased Myspace for US$580 million. News Corporation had beat out Viacom by offering a higher price for the website, and the purchase was seen as a good investment at the time. Of the $580 million purchase price, approximately $327 million has been attributed to the value of Myspace according to the financial adviser fairness opinion. Within a year, Myspace had tripled in value from its purchase price. News Corporation saw the purchase as a way to capitalize on Internet advertising, and drive traffic to other News Corporation properties.