MySpace set to take over iLike
MySpace set to take over iLike.
Social networking hub MySpace has said it is acquiring iLike, a popular music application on rival Facebook.
The $20 million (£12 million) agreement to purchase iLike confirmed rumours that had circulated this week and was the first play that new CEO Owen Van Natta has made to expand MySpace's web footprint after a series of drastic cuts and writedowns.
ILike, which has 55 million users, will remain headquartered in Seattle, and its management team will stay intact, with brothers Ali and Hadi Partovi in the top two slots. They founded the service in 2006.
Van Natta, who replaced co-founder Chris DeWolfe as MySpace chief executive in April, said that iLike technology will help MySpace users share songs, videos and games away from their MySpace home pages.
For instance, iLike already has 10 million users on Facebook. It also attaches itself to Apple's iTunes music store with song recommendations.
"We believe what iLike has created isn't limited to just music and should extend to all the areas important to MySpace users, such as entertainment video, and games," he said.
Facebook, which ranked iLike among its top eight applications and the third most popular in its entertainment segment, said it did not expect the acquisition to affect its users.
Van Natta said the iLike technology would complement its MySpace Music joint venture, a free music streaming and discovery platform it launched with major recording companies in September.
The two services, however, will not be integrated right away.
source
Social networking hub MySpace has said it is acquiring iLike, a popular music application on rival Facebook.
The $20 million (£12 million) agreement to purchase iLike confirmed rumours that had circulated this week and was the first play that new CEO Owen Van Natta has made to expand MySpace's web footprint after a series of drastic cuts and writedowns.
ILike, which has 55 million users, will remain headquartered in Seattle, and its management team will stay intact, with brothers Ali and Hadi Partovi in the top two slots. They founded the service in 2006.
Van Natta, who replaced co-founder Chris DeWolfe as MySpace chief executive in April, said that iLike technology will help MySpace users share songs, videos and games away from their MySpace home pages.
For instance, iLike already has 10 million users on Facebook. It also attaches itself to Apple's iTunes music store with song recommendations.
"We believe what iLike has created isn't limited to just music and should extend to all the areas important to MySpace users, such as entertainment video, and games," he said.
Facebook, which ranked iLike among its top eight applications and the third most popular in its entertainment segment, said it did not expect the acquisition to affect its users.
Van Natta said the iLike technology would complement its MySpace Music joint venture, a free music streaming and discovery platform it launched with major recording companies in September.
The two services, however, will not be integrated right away.
source
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