Former Facebook Exec, New MySpace CEO

Former Facebook Operations and Revenue executive, Owen Van Natta, is now the CEO of his former company's rival, MySpace. The announcement was made last Friday, after News Corp (MySpace's parent company) decided to let go of Chris DeWolfe, former MySpace CEO.

Van Natta worked wonders for Amazon's business development unit before transferring to Facebook. At Facebook, he advocated social network driven personal purchases instead of traditional advertising campaigns - believing that friends greatly affect people's buying patterns.

Over the last two years, MySpace's traffic increased a mere 3.4%, totaling 70 million monthly visitors, while Facebook's traffic has boomed 77% to 57 million. It remains to be seen what Van Natta intends to do about that.

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