MySpace to Launch Incubator
Posted on February 13th, 2008 in Uncategorized | 2 Comments »
MySpace plans to announce that it has formed a business incubator called SlingShot Labs to spawn Internet start-ups for News Corporation’s growing empire of Web properties, which now includes The Wall Street Journal’s WSJ.com as well as the video game site IGN, according to BusinessWeek. The new venture is seeded with $15 million to hire roughly 40 employees, mostly software developers, say people with knowledge of the plans.
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I’m betting Myspace gets a ton more innovation out of just opening their platform than with Slingshot Labs. The open platform will encourage organic innovation and Slingshot managers will be hard pressed to place better bets than the dev community as a whole.