It's a done deal.
After days of speculation – some of it conducted right on this blog – MySpace today announced it would indeed acquire iLike, a popular music streaming and discovery tool. The agreement strengthens MySpace's grip on the music market – iLike is second only to MySpace Music in popularity – and extends the reach of the social network, which has lost serious traffic in recent months to Facebook.
“The iLike acquisition advances our relentless pursuit of innovation and the need to create new distributed social experiences in music and beyond,” MySpace CEO Owen Van Natta said in a statement. “We are deeply committed to bringing world class talent into all areas of the company and this acquisition demonstrates our focus on this objective.”
iLike, which was founded in 2006, bills itself as “the Web’s leading social music discovery service and the dominant music application on the Facebook, Orkut, hi5 and Bebo platforms.” Over the past few years, the total number of users of iLike has risen to 55 million, making it an attractive target for a social network such as MySpace.