A couple of years later in 2005, my space was acquired by Rupert Murdoch's news corporation for an enormous amount of 580 million dollars. Today, people are finally realizing that it makes sense to advertise in social networks or communities, back then no one believed that advertisers would ever come. So there was a meeting between myself, Mr. Murdoch, Peter Chernan, and Ross, where I explained the business model very simply. I said that this is the perfect media company. The users generate their own content, so you have no content costs. The users invite their friends, so you have no distribution or customer acquisition costs, and all you need to do is sell the ads. Literally at that moment, we knew a deal was done. A deal was done that quick, we shook hands on a price. So you're the guy with the money in the room, he said yes, deal is done. 20 minutes later. This signaled the first time that traditional media recognized the power of social networking. Things were looking good for my space.