Former MySpace CEO Mike Jones Launching Incubator in L.A.

[ Mike Jones still has a MySpace page. ]

According to our sources, former MySpace CEO Mike Jones is starting a Los Angeles-based incubator. We've reached out to Jones for comment.

Jones sold his company Userplane to Aol in August 2006. In 2008 he started a landing-page and SEO business called Tsavo that he abruptly left for MySpace to rejoin mentor Jon Miller who bought Userplane at Aol.

MySpace was sold to ad network Specific Media in late June for $35 million -- less than 10% of the price News Corp paid in 2005.

Jones is well-liked in Los Angeles and investor circles, and should have no problem recruiting investors or founders.