Facebook is everywhere! The public is just learning insider information about company statistics and the inner workings of the social networking giant with the recent decision to file for an IPO. Headlines recently have concentrated on profits, vulnerability and the interesting data released to the public.

But one social networking website that no one seems to talk about anymore is possibly making a comeback. Before Facebook really took off, MySpace was the place to be. You could customize your profile, chat with friends, find lost loves and play games. Even though Facebook doesn’t really allow user customizations, it took many users away from MySpace, leaving the once entertaining website in the dust.

With dwindling numbers and no clue where to go from the bottom, MySpace was bought and sold several times, finally landing in the hands of Specific Media partnered with pop icon Justin Timberlake. But if it once had millions of users and lost them to Facebook, how would it gain back popularity and survive again?

In my opinion, MySpace did one of the smartest things a failing company could do. It stopped competing. They realized they just couldn’t win the popularity contest with Facebook and other rising social networking websites and decided to find a way to partner with them instead.

But what could it offer that wasn’t available elsewhere? Joining forces with Justin Timberlake was a great idea for the failing company. Ditching the idea of social networking, they have now put their main focus on music. MySpace now offers songs, videos and music news more than anything else.

Just offering music and media content isn’t enough though. Allowing people to access content simply by using their Facebook login opens up the doors for a new audience.  Changing the goals and direction of MySpace was an ingenious idea. The company could have simply followed countless other one-time-popular websites and faded from memory.

Using the simple “If you can’t beat them, join them” theory, MySpace is expected to announce the addition of one million new members. Maybe MySpace still has a future in the Internet world. Only time will tell if they can bring themselves back to the top again.