MySpace to Acquire iLike for $20M, Report Says
Seattle-based iLike may be acquired by MySpace for $20 million, according to a report today in TechCrunch. iLike is a music service company with Facebook and iPhone programs that help people find new music and create playlists. It recently launched a new iPhone app that finds local concerts based on the music found on a device. According to anonymous sources cited in TechCrunch, MySpace may close the deal with iLike by the end of this week.
iLike has around 10 million Facebook users. If MySpace acquires iLike, it will own an app on an enormous chunk of Facebook music listeners. MySpace is a major rival to Facebook in social networking, and when it comes to music, iLike is by far the most popular Facebook app. MySpace owning it would therefore make for some interesting changes in that rivalry.
iLike was founded in 2002 by Ali Partovi, Hadi Partovi, and Nat Brown. It has raised $16.5 million in funding from the likes of Vinod Khosla and Ticketmaster. Currently, the company has more than 50 million registered users for its website and various platform applications.