One of MySpace's founders has speculated the popular social networking site will soon open itself up to third-party widgets and more, reports The Financial Times.

Co-founder Chris DeWolfe said MySpace could open up parts of its source-code for developers to build on as a response to a similar move by Facebook. Facebook's opening allowed anyone to create a widget or add-on software that could be plugged into their page and made available to anyone else. LinkedIn followed suit a couple of weeks later.

MySpace has been operating a more closed ecosystem, though, restricting anyone from making money directly through third-party add-ons. Facebook has no such restrictions.

Allowing for third-party development is an increasingly popular tactic employed by many online companies seeking to endear themselves to developers and users alike.