MySpace acquires social music service iLike

Social networking service MySpace confirmed its rumored acquisition of social music discovery solution iLike--terms of the transaction were not disclosed, but scuttlebutt suggests the deal is valued at $20 million. iLike, which enables users to download and share music, was founded in 2006, and now boasts more than 55 million total users (many of whom connect via MySpace rival Facebook) and 1.5 billion monthly impressions--iLike CEO Ali Partovi, President Hadi Partovi and CTO Nat Brown will remain with the firm, which will continue to operate out of its Seattle headquarters. MySpace adds that users and the artist community should expect the acquisition to have no impact on the iLike experience.

iLike has introduced a series of services optimized for Apple's iPhone platform over recent months. In May, the company announced [1] a new turnkey system promising artists the tools to create and distribute their own personalized iPhone applications featuring tour dates, photos, blogs, bulletins and videos. iLike notes that the system enables musicians to customize the look and feel of the app to their unique specifications. Earlier this month, iLike debuted [2] the iLike Challenge App, collaborating with Sony Music Entertainment to test how quickly fans can identify clips from hitmakers spanning pop, classic rock, country and hip-hop.

For more on the MySpace/iLike deal:
- read this release [3]

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