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Summary:

MySpace COO Amit Kapur is leaving, a little over a year after he was promoted, according to All Things D. Our sources confirmed that he has…

MySpace COO Amit Kapur is leaving, a little over a year after he was promoted, according to All Things D. Our sources confirmed that he has resigned, though details on when he’ll leave and where he’s headed are scarce. They did back up Kara’s assertion that he might be headed for something “more entrepreneurial” — as two other team members are leaving to work with him, one of whom is Steve Pearman, SVP of product strategy. Both moves have been announced internally via memo.

CEO Chris DeWolfe promoted Kapur from VP of business development as part of MySpace’s push to open its platform and go global; he oversaw the launch of MySpace India and MySpace Music. We can report that MySpace plans to replace Kapur with a new COO, a much-needed role.

Valleywag has the memo, which notes that Pearman and Jim Benedetto, SVP, engineering, are leaving to join Kapur’s new, unnamed startup.

Update: In addition to the lengthy internal memo — we’ve also received it so you can read the full text after the jump — MySpace has issued a statement from DeWolfe stressing that “Amit, Jim, and Steve depart as great friends of MySpace and of our executive team. They will remain on board for the next few weeks to ensure a smooth transition company-wide.

  1. Is this the opening that Facebook needs to take the number one spot?
    ______________________
    stHrt.com

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  2. No bread leaves mayo on you Wednesday, March 4, 2009

    I don't care. Twitter it to others. It's a bunch of dudes probably going nowhere and I don't use any of them, including Twitter. If you want Facebook to be number one, use it and WORK FOR THEM.

    Don't spectate, BE the wreck.

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  3. These are painful times and nobody gloats when a company is experiencing difficulties, but I think that Myspace needs to seriously reconsider its direction and corporate attitude. Myspace changed the world when it hit the scene, but like Yahoo to Google, somewhere along the way it lost its innovation. Everyone I know at one time had both a Myspace and Facebook page, but now they only seem to be using their Facebook accounts. To use a television analogy, I have always thought that Myspace was like network television and Facebook like PBS/cable. I watch both, and they each serve a different purpose. However, like much of network television, Myspace has lost sight of why their users initially joined their site. If Myspace was being guided in the right direction, there would be no issues with Facebook because the two social networks serve different purposes and aren’t mutually exclusive. I still believe that as a mass market delivery network, Myspace has great potential.

    For example, as someone that is knowledgeable in both online and music, I believe that Myspace Music has been a total squandering of an opportunity with enormous potential. Myspace Music’s opportunity is not in selling downloads yet because they haven’t established themselves as a music/entertainment brand, contrary to what they believe. Myspace Music joined a crowded field and has done nothing of significance to differentiate itself from the pack in the minds of their enormous user base. Myspace’s “if we build it they will come” mentality with regard to Myspace Music is sorely mistaken. Myspace users have always been able to stream music so that’s not a big deal to them. And certainly putting a button that allows users to buy music on the player is not enough to call it a major music initiative. When Myspace made the announcement about Myspace Music, I was so excited to see what revolutionary new things they would unveil, but when I actually saw Myspace Music, it was like, “Oh, that’s it?” I think many of their users felt (and still feel) the same way. If Myspace Music had the benefit of being a division of the company that created the greatest music device in the history of mankind like iTunes, then they could afford to be lackadaisical about brand building, but they don’t have that luxury.

    I have always believed that Myspace Music’s real utility is in being a one-stop music community that connects its users with the numerous bands on their social network in a meaningful way. Currently, they aren’t doing that at all, which is why they also haven’t been able to connect their advertisers with their users in a way that is relevant to the users. For example, here are just a few completely obvious examples of how they could really be of value to their users as a one-stop music community. First, add online radio streams as iTunes has done. Myspace should have advertising supported radio streams by genre that give information about the artist that is playing and that links to the artist’s Myspace profile on the pop-up Flash player. In addition to having streams with already established artists (to pull users in), they should also have streams with the best new major label bands, indie bands, and great unsigned bands on Myspace to actually make it EASY for Joe Myspace user to hear their favorite artists and discover new music (essentially becoming a global Clear Channel Radio). Secondly, add a weekly in-studio live performance show. Myspace is owned by Fox. Fox has major soundstages in Los Angeles and I’m sure that one of the soundstages on the Fox lot is empty. Myspace Music should tape an intimate live weekly performance show with the biggest artists on Myspace Music (reminiscent of VH-1’s Storytellers). It should be the place where established bands come to play live to debut songs from upcoming releases (globally), or in Bruce Springsteen’s case, come to remind some of Myspace’s younger users why he still kicks butt, and a place where good up and coming Myspace bands have a place to break (again, offering sponsorship positions throughout the program to connect advertisers with Myspace users in a relevant way). Lastly, I can’t even go to Myspace Music and get my music news. What’s up with that? They need to add a music news aggregator. Myspace Music has a billion opportunities, they just need to use them.

    I think Myspace still has a world of potential so it will be interesting to see what the management changes will bring.

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  4. You know, I can't say I'm surprised….MySpace has kinda' been on the downturn ever since Facebook started picking up speed…they're probably smart to get out!

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  5. It's interesting that Kapur is stated as leaving in order to do something 'more entrepreneurial'. It's amazing how quickly internet businesses have become established. Not only that the implication is that MySpace is becoming bereaucratic – heaven forbid.

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  6. Internet business is growing and these amazing people have taken the step of having something else work for them. Great work guys.

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