Tom Anderson is the co-founder of Myspace, which used to be the most popular social network before Facebook. Before Myspace, Tom started a company called ResponseBase with Chris DeWolfe; who he met at his previous job. ResponseBase was then sold to eUniverse, an internet marketing company. With the help of eUniverse, Anderson and DeWolfe were able to make the Myspace website in just 10 days. They used a rival social media company called Friendster as a model because Anderson saw that there were somethings about that website that he could improve upon. Myspace quickly gained traction among teens and was becoming extremely popular. Newscorp (owned by Fox Broadcasting) offered $580 million to purchase Myspace, which Myspace accepted.  After the purchase things seemed good for Myspace as it was only getting more popular, but soon Facebook was catching up. Myspace was getting too ad heavy, while Facebook was much cleaner. Tom Anderson was replaced as president of Myspace in 2009, blamed of slowing things down. Anderson was a very wealthy man from the Newscorp acquisition and could retire at a very early age. In 2014, Anderson now is a very active photographer and does not have any active roles in any startups. Myspace was sold in 2011 for a measly $35 million due to lack of users. Anderson is a great entrepreneur because he started the biggest social network of its time, and Social networks are now a huge market.