Myspace has acquired iLike for approx. $20M though the exact details of the deals weren't revealed. More information can be found at Techcrunch link here.
Random thoughts on this deal
1. iLike is an app that has been integrated with Facebook. How do you put a valuation of 20M on the app like iLike? What if Facebook discontinues iLike tmrw and replace it with something very similar.
2. As Myspace I would be wary about why Facebook hadn't acquired iLike before. From what I read somewhere iLike management's team weren't fond of Facebook's mgmt team - so this possibly could be one of the reason.
3. The two social media competitors are going to have to collaborate on the issue of iLike. I don't really see how this will work out (I haven't used iLike or any of the music app. online so I am not aware of how it works).
Finally, I think it is a positive step for Myspace. Myspace definitely can't compete with just being an only Social Medial entity. Their best bet is concentrating in music industry and I think with the acquisition of iLike they have made clear that they want to lead the Social Media Music landscape. In fact, I believe that soon each entity in Social Media will target to one segment.
Facebook - e-commerce platform
Myspace - Music
Twitter - Real time web search
The social media landscape is going to further develop itself. I think of it as a world over internet with no boundaries. Well sort of!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment