Brad Greenspan
Encyclopedia
Brad Greenspan is an internet entrepreneur who has been involved in the founding and proliferation of web properties including MySpace
. Greenspan founded eUniverse Inc. in 1998, which went public in 1999. The company survived the .com-bust of 2001 and was the incubator that launched MySpace.com in 2003. Greenspan left his position as CEO at eUniverse towards the end of 2003, after accounting problems which lead to three quarters of financial results having to be revised forced a four-month halt in trading of eUniverse stock. Greenspan retained a significant percentage of shares in the company and owned 10% of the company when it sold to News Corp in 2005. Greenspan opposed the acquisition, and has been fighting News Corp both legally and publicly ever since. He increased the market cap of Euniverse from $70mm to $650mm when the company was sold to News Corp.
Greenspan has continued to innovate and has established Broadwebasia (an Asian internet company), Borba
(a health product-line), and LiveUniverse (a social network focused internet company).
(MySpace's former CEO), Josh Berman, Tom Anderson
(MySpace's former president), and a team of programmers and resources provided by eUniverse.
Greenspan was forced to resign from the company he founded, eUniverse. Greenspan battled with board members, who changed the company's name to Intermix Media shortly after his departure. Among the disputes: restated earnings during his watch that prompted an informal Securities & Exchange Commission accounting investigation and a temporary delisting of its stock by NASDAQ. Separately, both the company and Greenspan were charged by New York Attorney General Eliot Spitzer for inserting spyware on unknowing consumers' Web pages.
and the U.S. Senate
Committee on Finance to investigate News Corp's acquisition of MySpace as "one of the largest merger and acquisition scandals in U.S. history." The report's main allegation is that News Corp. should have valued MySpace at US$20 billion rather than US$327 million, and had, in effect, defrauded Intermix shareholders through an unfair deal process. The report received a mixed response from financial commentators in the press. A lawsuit led by Greenspan challenging the acquisition was dismissed by a judge.
MySpace
Myspace is a social networking service owned by Specific Media LLC and pop star Justin Timberlake. Myspace launched in August 2003 and is headquartered in Beverly Hills, California. In August 2011, Myspace had 33.1 million unique U.S. visitors....
. Greenspan founded eUniverse Inc. in 1998, which went public in 1999. The company survived the .com-bust of 2001 and was the incubator that launched MySpace.com in 2003. Greenspan left his position as CEO at eUniverse towards the end of 2003, after accounting problems which lead to three quarters of financial results having to be revised forced a four-month halt in trading of eUniverse stock. Greenspan retained a significant percentage of shares in the company and owned 10% of the company when it sold to News Corp in 2005. Greenspan opposed the acquisition, and has been fighting News Corp both legally and publicly ever since. He increased the market cap of Euniverse from $70mm to $650mm when the company was sold to News Corp.
Greenspan has continued to innovate and has established Broadwebasia (an Asian internet company), Borba
Borba
Borba may refer to:Place names* Borba, Amazonas, a municipality in Amazonas state in Brazil* Borba Municipality, Portugal* Borba, Portugal * Borba DOC, a Portuguese wine region* Borba de Montanha, parish in Celorico de Basto Municipality...
(a health product-line), and LiveUniverse (a social network focused internet company).
Dow Jones
In mid-2007, Brad Greenspan presented a takeover bid for Dow Jones' Wall Street Journal (WSJ) against News Corp. Greenspan was unsuccessful in his bid against News Corp.History
Brad Greenspan attended UCLA, where he launched his first company Palisades Capital from his dorm room.MySpace
The MySpace service was founded in August 2003 as a new initiative and 100% owned division of publicly traded internet company eUniverse (which later in mid-2004 changed its name to Intermix). eUniverse created and marketed the Myspace website, providing the division with a complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity right out of the gate so the MySpace team wasn’t distracted with typical start-up issues. The project was overseen by Brad Greenspan (eUniverse's Founder, Chairman, CEO), with Chris DeWolfeChris DeWolfe
Chris DeWolfe is an American entrepreneur, and one of the creators of Myspace , of which he is also the former CEO. He has the sixth account ever made on the site. During DeWolfe's tenure, MySpace became the top social network, with over 135 million worldwide unique visitors a month...
(MySpace's former CEO), Josh Berman, Tom Anderson
Tom Anderson (MySpace)
-External links:* on * * on...
(MySpace's former president), and a team of programmers and resources provided by eUniverse.
Greenspan was forced to resign from the company he founded, eUniverse. Greenspan battled with board members, who changed the company's name to Intermix Media shortly after his departure. Among the disputes: restated earnings during his watch that prompted an informal Securities & Exchange Commission accounting investigation and a temporary delisting of its stock by NASDAQ. Separately, both the company and Greenspan were charged by New York Attorney General Eliot Spitzer for inserting spyware on unknowing consumers' Web pages.
Brad Greenspan / The MySpace Report
In October 2006, Brad Greenspan launched a website, called freemyspace.com, and published reports that called for the Securities and Exchange Commission, the United States Department of JusticeUnited States Department of Justice
The United States Department of Justice , is the United States federal executive department responsible for the enforcement of the law and administration of justice, equivalent to the justice or interior ministries of other countries.The Department is led by the Attorney General, who is nominated...
and the U.S. Senate
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
Committee on Finance to investigate News Corp's acquisition of MySpace as "one of the largest merger and acquisition scandals in U.S. history." The report's main allegation is that News Corp. should have valued MySpace at US$20 billion rather than US$327 million, and had, in effect, defrauded Intermix shareholders through an unfair deal process. The report received a mixed response from financial commentators in the press. A lawsuit led by Greenspan challenging the acquisition was dismissed by a judge.