What ever the rumors were about MySpace’s acquisition of iLike, they have turned out to be true as MySpace confirmed the acquisition. Its CEO, Owen Van Natta stated that after acquisition, iLike will serve a bigger purpose instead of being limited to music and would expand to all categories of entertainment. What do those categories include remains undisclosed. It will be interesting to see how fruitful is this acquisition for both parties involved. But the timing of this acquisition (is definitely a coincidence), following Facebook’s acquisition of FriendFeed puts a question; was this just to compete with the other and show that there is a continuous expansion among the competitors.
Tag Archive: ilike
Social music discovery engine, iLike is going to have a change of fortune as reports of MySpace acquiring it break free. The cash value for this deal is put close to $20 Million, though there has been no word to confirm or deny this from either party. iLike has grown in popularity since it went live back in 2006 and its acquisition by MySpace sounds quite justified as the once leading social network feels the need to define that MySpace is all about entertainment and not just a social network. The other interesting aspect is that iLike gets a bulk of its traffic, close to 10 million users a month from Facebook the source of all trouble for MySpace.
2
