Even Google has failed to extend its golden touch to social-networking sites. In 2006 Google paid MySpace $900 million to place ads on its pages. The search giant also operates its own social network, Orkut, which has been growing, especially outside the US.
But in a February call with financial analysts, Google cofounder Sergey Brin conceded that the investments “didn’t pan out as well as we had hoped…. I don’t think we have the killer best way to advertise and monetize the social networks yet.”
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