Slingshot Labs
Encyclopedia
Slingshot Labs was a media and business incubator
owned by News Corp
that was launched on February 13, 2008. Slingshot was separate from News Corp's Fox Interactive Media
, and its mission is to build and develop new Web ventures for the parent company. The incubator was founded by some of Myspace
's founding members, Josh Berman Colin DiGiaro, and was headquartered in Santa Monica
, California
. It was operated by Josh Berman and Diego Berdakin prior to its shutdown in 2010.
, announced a US$
10 million fund to invest in software companies that build applications for its social network. Comparisons to Facebook's fund swirled around the company's launch, but News Corp and Myspace execs did not acknowledge them. Current CEO of Myspace, Chris DeWolfe
, explained to BusinessWeek
, "This is my baby, my idea, and something I've wanted to do for a long time." Both DeWolfe and News Corp chairman Rupert Murdoch
have been involved with the company's initial stages; it was seeded by News Corp with US$
15 million and 40 employees.
's Page Six, Media Take Out
, and Gossip Girls.
Business incubator
Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts...
owned by News Corp
News Corporation
News Corporation or News Corp. is an American multinational media conglomerate. It is the world's second-largest media conglomerate as of 2011 in terms of revenue, and the world's third largest in entertainment as of 2009, although the BBC remains the world's largest broadcaster...
that was launched on February 13, 2008. Slingshot was separate from News Corp's Fox Interactive Media
Fox Interactive Media
News Corporation's Digital Media Group , also known as News Corp. Digital Media and formerly Fox Interactive Media, oversees the Internet business operations of media giant News Corporation, and was formed to oversee News Corporation's new media acquisitions, including IGN Entertainment, MySpace...
, and its mission is to build and develop new Web ventures for the parent company. The incubator was founded by some of Myspace
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....
's founding members, Josh Berman Colin DiGiaro, and was headquartered in Santa Monica
Santa Mônica
Santa Mônica is a town and municipality in the state of Paraná in the Southern Region of Brazil.-References:...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
. It was operated by Josh Berman and Diego Berdakin prior to its shutdown in 2010.
Company history
The launch of Slingshot Labs came nearly a year and a half after Myspace's primary competitor, FacebookFacebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
, announced a US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
10 million fund to invest in software companies that build applications for its social network. Comparisons to Facebook's fund swirled around the company's launch, but News Corp and Myspace execs did not acknowledge them. Current CEO of Myspace, Chris DeWolfe
Chris 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...
, explained to BusinessWeek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
, "This is my baby, my idea, and something I've wanted to do for a long time." Both DeWolfe and News Corp chairman Rupert Murdoch
Rupert Murdoch
Keith Rupert Murdoch, AC, KSG is an Australian-American business magnate. He is the founder and Chairman and CEO of , the world's second-largest media conglomerate....
have been involved with the company's initial stages; it was seeded by News Corp with US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
15 million and 40 employees.
Company Portfolio
The company planned to develop four to five ventures per year, ranging from stand-alone web destinations to social media applications. It recently launched a celebrity gossip site Daily Fill, which aggregates content from partner sites such as The New York PostNew York Post
The New York Post is the 13th-oldest newspaper published in the United States and is generally acknowledged as the oldest to have been published continuously as a daily, although – as is the case with most other papers – its publication has been periodically interrupted by labor actions...
's Page Six, Media Take Out
Media Take Out
Media Take Out is a blog-style gossip website catering to people that are interested in drama. It claims to be "The Most Visited Urban Website in the World" and has an Alexa ranking of 1,477 as of October 26, 2010....
, and Gossip Girls.