If you spent the late 2000s perfecting your profile song, customising your background, and ranking your friends in the coveted Top 8, you'll want to read this. Myspace, the OG social networking site, might actually be making a comeback.

In Tommy Avallone's new documentary Myspace, Chris and Tim Vanderhook — the brothers whose company, Variant Technologies, acquired the social media platform from News Corp in 2011 — reveal they have plans to relaunch the once-dominant site.

"We still own Myspace. We are stewards of the Myspace brand at this point, and we are going to relaunch Myspace," Chris Vanderhook says in the documentary, per People. "We're just waiting for the right time to do it. And if that one doesn't work, we'll do it again."

They've attempted to relaunch it before

You're not imagining it, we've walked down this road before. So what happened with the first relaunch, and why didn't it work?

The Vanderhook brothers first acquired Myspace in 2011, after convincing News Corp to sell them the platform. As the documentary reveals, they did this rather unconventionally: by faking a press release announcing that Timberlake was joining their acquisition team, long before they'd even spoken to the singer.

But their tenacity paid off, and they actually managed to secure a meeting  with Timberlake in New York. He came on board as an investor, and together they set out to give Myspace a second life.

Unfortunately, by the time they took over, the social media landscape had shifted."It wasn't the same Myspace," Tim explains in the documentary, noting the company had already been through multiple CEOs and leadership teams before they arrived. Facebook had firmly established itself as the dominant social network, meaning advertisers had moved on, and Myspace's cultural relevance had faded.

Could it actually work this time?

For now, there's no timeline for Myspace's return, or any indication of what the platform might become. But if it can tap into the ethos that made the original feel so exciting, it may find that the internet is ready to embrace it again.

One of Myspace's original co-founders, Chris DeWolfe, told People that there is appetite for a platform that encouraging users to discover new music, connect with friends, and stumble across unexpected interests, without being driven by an addictive algorithm

"I do think the algorithms have a lot to do with the addictive nature of social media," he said. "Everything's programmed to you and what you're going to like, with the complete and total notion of increasing the amount of minutes that you're going to spend on a particular social media site."

He contrasted that with Myspace's early days, saying,"It wasn't [about] the whole FOMO aspect of life," he said. "That's what's making people feel poorly and giving some people lower self-esteem on some of the current social media sites."

Of course, nostalgia alone isn't enough to rebuild a social network. But if there's ever been a moment for Myspace to make another attempt, this might just be it.