With Google’s new social networking site Buzz, and Facebook and Twitter already marching ahead, MySpace is all set to carve a niche for itself. A new look is being given to the micro-blogging site with a new mantra, "Discover and be discovered".

Co-Presidents Jason Hirschhorn and Mike Jones declared their plans to refurbish the website in the next few months in an endeavor to once again take it to the top.

Reuters reported that Hirschhorn desires the site to cultivate 200 or 300 million users from 100 million users at present.

Meanwhile, MySpace’s year has not been good so far, after Chief Executive Officer Owen Van Natta left in February 2010, following Chris DeWolfe, former CEO.

The new plan will now center on multimedia, music and movies. It will enable users to share their playlists with friends, family.