MySpace Confirms iLike Acquisition
Confirming the rumors buzzing around the blogosphere this week, MySpace CEO Owen Van Natta issued an official announcement yesterday that his social networking and music promotion site had purchased online music service iLike. Van Natta declined to disclose details about the terms of the agreement, though initial murmurings on TechCrunch listed $20 million as the price of the acquisition.
With a shared vision to make artistic content accessible—not just
music, but video and games as well—the two companies hope to make great
strides in serving their users. iLike's music recommendation engine
will bring something new to the MySpace experience, and MySpace plans to use iLike's
engineers to develop new programs that will give users different
opportunities for discovering entertainment.
“Combining MySpace’s existing platform, reach and resources with iLike’s syndication network and social discovery tools creates the potential for truly exciting innovation and commerce across any vertical entertainment category..." said iLike President Hadi Partovi in a statement. The acquisition will not destruct what iLike has already built (the iLike team will stay intact, and the user's experience of the application will not be altered); rather, it will promote further building.
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