August 17, 2009 6:00 PM
MySpace may be buying iLike: Report
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MySpace may be close to acquiring social music service iLike in a potential deal worth about $20 million, according to TechCrunch.
If the acquisition does go through, it will be the first since its new CEO Owen Van Natta took over in April.
iLike is a Web-based social music discovery service, and claims to be the dominant music application on several social networking platforms, including Facebook, Orkut, hi5 and Bebo. However, MySpace currently offers its own service, MySpace Music.
Founded in 2006, iLike has raised $16.5 million to date and now counts 50 million registered users for its service, which monitors listening habits and can make musical recommendations.
Some 10 million of its users access iLike via a Facebook application.
TechCrunch reports that MySpace is interested in the technology and the iLike team, which includes Ali Partovi, Hadi Partovi and Nat Brown.
Last week, iLike debuted its own music download store to complement its streaming service, with songs priced between 89 cents and $1.29.
camyl
They're doing this because a lot od site competetors are on the web. Facebook has become the new MySpace. Ironic, since a few years ago, MySpace was touted as becoming the new Facebook. More people are joining the social networking site, and it's also a great place to advertise for a business – it's free advertising space, and social networks have become a marketing hotbed over the last few years. There are precious few opportunities for a business to have access to so many potential customers, which can be a great way to build customer rapport, as long as you aren't spamming anyone – customers hate that. And since the website is free to sign up for, a business can start advertising on Facebook without needing <a rev="vote for" title="Facebook Sells, Set Up Your Network Now" href="http://personalmoneystore.com/Payday-Loans/ ">payday loans</a> to start an ad campaign.
02:35 am, Aug 19, 2009
