Get ready for a blast from the not-so-distant past. MySpace is back.

Between 2005 and 2008, MySpace was the most visited social media site. It was the place to be. Everyone had a MySpace account, and their pages were a proliferation of blaring music, glittering GIFs, and dancing cartoon characters. I coined the term "visual vomit" to describe personal MySpace pages.

Facebook eventually overtook MySpace in 2009 and MySpace has been on the decline ever since. In June of 2011, Specific Media Group and Justin Timberlake jointly purchased the company for approximately $35 million.

Now MySpace has completely re-designed itself and is gearing up for a massive relaunch. Right now the service is invite only (you can apply for an invite on the new MySpace's landing page), but it isn't that hard to get in. I managed to score an invite.

The new site scrolls horizontally and has big buttons and controls. It looks to be designed specifically for tablet computers. The new MySpace seems to be targeting the creatives in the audience, and looks to be positioning itself as a place where one can go show their newest creation--be it a song, painting, article, or whatnot.

The whole "invitation only" approach worked for Pinterest. Can MySpace rise from the ashes and compete in today's already crowded social media landscape?

Terry's MySpace|MySpace.com