MySpace is looking to raise $50 million to revamp itself as a music streaming service and take on the likes of Spotify and Pandora. In a pitch deck, dated November 16, 2012, the company would like to use $10 million for marketing, between $15 and $25 million for licensing, and the remaining for working capital. The company also would like to launch a music subscription service in 2013. [Source Business Insider]