In a bid to position itself better in the highly competing social networking domain, MySpace has announced to snap up a social music start up firm, “iLike”, as a part of its schema to reinvigorate its platform to lure more social networking enthusiasts.
The acquisition would presumably spruce up the offerings of the social networking site, which has been losing considerably to rivals, especially Facebook, of late.
Financial terms of the acquisition were not revealed, but a source close to the situation notified that the deal would be valued at around $20 million.
More: http://www.itproportal.com/portal/news/article/2009/8/20/myspace-acquires-music-startup-ilike-20-million/
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The acquisition would presumably spruce up the offerings of the social networking site, which has been losing considerably to rivals, especially Facebook, of late.
Financial terms of the acquisition were not revealed, but a source close to the situation notified that the deal would be valued at around $20 million.
More: http://www.itproportal.com/portal/news/article/2009/8/20/myspace-acquires-music-startup-ilike-20-million/
