MySpace houses Facebook app, iLike
MySpace, a popular social networking website signed last Wednesday the $20 million agreement to purchase iLike, a Facebook music application with 55 million users. This was the first affair of the new management with the plans of expanding their comany after a series of drastic cuts and writedowns.
MySpace CEO Owen Van Natta, who replaced co-founder Chris DeWolfe as MySpace chief executive in April, stated that iLike technology will help MySpace users share songs, videos and games away from their MySpace home pages. He also believes that iLike shouldn’t be limited to just music and should extend to all the areas important to MySpace users, such as entertainment, video, and games.
Facebook ranked iLike among its top eight applications and the third most popular in its entertainment segment. Facebook said it does not expect the acquisition to affect its users.
The acquisition of a rival app made by MySpace was a clever move to attain Facebook’s strongest suit which is to provide entertainment within one’s homepage. MySpace will gain so much from the purchase as iLike is not just a music hub no more as it emerges to be a social networking all by itself.
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