Friday, August 21

iLike Myspace, Do You?

Earlier this week MySpace confirmed that it would be partnering with iLike, a music sharing application for social networks that allows users to share playlists and make song recommendations.

Owen Van Natta, the CEO of MySpace, indicated that the purpose of the purchase was to restructure and refocus the company.

In a recent interview Van Natta said, “iLike is an important part of a lot of different social networking experiences, and we’re excited to extend that experience to other areas of entertainment that MySpace has assets in.”

Although Mr. Van Natta refused to discuss the finances surrounding the partnership, some sources speculate that the purchase will cost the company over $20 million.

Since iLike began two years ago, the music sharing application has attained more than 50 million users. Most of it’s current users acquire the service through Facebook, one of MySpace’s leading competitors. It is unclear how the new deal will effect the partnership between Facebook and iLike. But Mr. Van Natta is confident that both partnerships will result in “making iLike an even richer experience within those environments.”

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