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News Corporation Launches Slingshot Web Incubator

Thursday, February 14, 2008 5:07:00 AM PDT | VentureDeal Staff

LOS ANGELES, CA -- News Corporation, the parent company of MySpace.com, has announced the formation of a web start incubator.

Called Slingshot Labs, the group is based in Santa Monica, CA and intends to invest in and nurture four to five new ventures per year.

The targeted businesses will range from stand alone Web destination sites to social media applications integrated into MySpace.

The group will be overseen by two former MySpace executives, Josh Berman and Colin Digiaro.

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