hi5 logoOver the past few years Facebook hasn’t just dominated its competition, it’s crushed it. Facebook has over 800 million users worldwide and it continues to grow – this complete domination of the social networking system has made it near impossible for other social sites to survive. Sites such as MySpace and Hi5 were desperately attempting to hold onto their last few shreds of members before they were eventually sold off.

Before Hi5 was sold Alex St. John, the president and chief of technology officer at Hi5, attempted to pivot Hi5 into a social gaming website as the race to social networking dominance was already over. After two years of social gaming, the Hi5 executives decided that it would be better off to sell Hi5 to Tagged, but this was undoubtedly done at a huge loss. MySpace, when it was sold lost $545 million in value from when it was initially purchased, unfortunately the price at which Hi5 was purchased is unknown.

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