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Music service iLike may be for sale
VentureBeat —
... ILike, the music startup that’s especially big on Facebook, is out look for an acquirer, according to MediaMemo. “Nothing iminent nor active discussions,” a source close to the company tells me in response. That’s not an outright no, so probably something is going on — maybe a further round of funding? ILike is one of several online music services that have gained millions of users in the last several years by latching on to social networks; others include ...
Web Music Service iLike On The Block
Silicon Alley Insider —
Web 2.0 music service iLike is looking for a buyer, AllThingsD's Peter Kafka reports.
Kafka: My sources couldn't tell me what sale price iLike is hoping to get. It has raised about $16 million in two years. Most of that came from Ticketmaster (TKTM), which has now split off from Barry Diller's IAC (IACI) and trades as standalone company. ... Ticketmaster's existing ownership makes it an obvious buyer. The company also has a relationship with RealNetworks (RNWK), which began powering a free music service for iLike this summer. And while I don't have ...
Music Service iLike In Search Of A Buyer: Report
paidContent —
Social music service iLike is on the block, MediaMemo reports—with existing stakeholder Ticketmaster and online music pioneer RealNetworks at the top of the potential buyers list. ILike has raised about $16 million in funding since its launch in 2006, with Ticketmaster and Bob Pittman's Pilot Group as its investors.
If this situation sounds familiar, it's because it is. Fellow music-focused social media company Imeem is also on the hunt for a buyer, a sign that both companies' management teams are wary of ...
Update on reports of iLike being for sale
The Seattle Times: Brier Dudley's blog —
... He did dispute one element in the initial report, on the MediaMemo blog Monday, that suggested iLike executives and investors are concerned about the company's ability to stay afloat and independent. ...
How a 'Made' Startup Was Clipped
Gawker: valleywag —
... Revenue was presumably slow in coming, though, because by fall of the following year iLike was said to be trying to sell itself and Ticketmaster wrote off half the value of its investment. Now investors are basically trying to break even with the MySpace sale. The music and advertising businesses have their own unique problems, but startups in other hot sectors, like iPhone apps, should beware: The excitement can dissipate as quickly as it inflates. ...
How a 'Made' Startup Was Clipped
Valleywag —
... Revenue was presumably slow in coming, though, because by fall of the following year iLike was said to be trying to sell itself and Ticketmaster wrote off half the value of its investment. Now investors are basically trying to break even with the MySpace sale. The music and advertising businesses have their own unique problems, but startups in other hot sectors, like iPhone apps, should beware: The excitement can dissipate as quickly as it inflates. ...
