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Justin Timberlake had the Internets abuzz earlier this week after dropping his new single “Suit & Tie”, and he’s wisely, ahem, tied the track in step with the Myspace reboot as well. reports that after making a splash in the business world by investing in the floundering social network Myspace in the summer of 2011, the site is officially live now. When users go to sign up or log in to the visually overhauled Myspace, they will be greeted by a suave Timberlake decked out in – you guessed it – a suit and tie. Once logged in, users will have an option of listening or downloading the Jay-Z-assisted track just for signing up.

Reemerging as a potential destination for artists of all levels to share their wares, Myspace hopes to recapture some of its earlier glory before other music-based sites snatched away their market share. Timberlake isn’t the only artist hoping to promote tracks via the site, with Myspace’s “Discover” section aiming to connect and inspire fans to download directly from the site. Other features include streaming radio and even a section where mixes can be uploaded and later shared.

Don’t worry if you don’t remember your old Myspace passwords. The site will allow members to sign in via their Facebook or Twitter handles as well.

Photo: Myspace