MySpace Confirms iLike Acquisition. Conference Call Livenotes
As expected, MySpace has confirmed that it bought iLike. It is not disclosing financial terms, but our information is that it was around $20 million. A conference call is about to start. My notes are below.
Owen Van Natta: This is teh first time I am speaking with you since taking on the role of CEO a feew montsh ago. In that time we have rstructutred and hired some talanted people. This is an offical announcement that MySpace has entered into an agreement acquired iLike
Decsion base don 3 things
1. need to innovate. Music is part of people’s’s lives. We strengthen our ability to innovate in this stea
2. shared belief in open content distribution. People want to interact in many places. We will take that strategy and apply it across the Web.
3. Great people. Expect to see continued news about great talent coming to MySpace.
broadcast, discover, express themselves. Where culture gets defined through social experiences around entertainment. By combining two models We believe that what iLike has created is not limited to music, can be extended to video and games. Because we see it as bigger than music, we are making this apart from MySpace Music.
iLike’s founders will remain and will stay in Seattle. In addition 26 employees joining MySpace.