Co-founder Leaves Myspace UK To Join Rubicon Project

Jay Stevens, one of the co-founders of MySpace UK, is leaving the News Corporation-owned social networking portal to join Los Angeles-based advertising start up The Rubicon Project.

Stevens, who had been there with the social networking site for a little over three years and played a prominent role in setting up MySpace's European and UK headquarters in London, is now joining the advertising technology start up as its international vice-president and general manager.

He recently held the position of “Senior Vice President of Audience”, and his exit has been reckoned by many as a significant loss for the social networking company.

The first executive of MySpace to be hired outside the US, Stevens last year transferred from London to MySpace's head offices in LA to assume the role of senior VP of audience.

The Rubicon Project offers proprietary adverts targeting systems that allow publishers to monetise unsold inventory, and it claims to help ad networks do better.

Commenting upon the growth prospects of online advertising industry, Stevens said in a statement, “The online ad industry is maturing and shifting to third-party sales channels, so ad networks are becoming an increasingly prevalent and relevant part of the mix”.

Stevens is the latest executive to leave MySpace, with his exit follows the departure of company's co-founder and chief exec Chris DeWolfe, who was substituted by former Facebook exec Owen Van Natta.

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Our Comments

Myspace's influence is gradually waning and it has already been overtaken by Facebook, a few months ago already. Myspace still is a niche social network and it is still viewed by many as an entity that is both overrated and on the decline. A quick look at Google Trends shows that Twitter could well become the next one to overtake Myspace. Although Myspace is still bigger than the microblogging website, the news reference volume - an index showing what the web is talking about - for Twitter is significantly more than for Myspace.

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