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As expected, today MySpace -- which is wholly owned by News Corp. (NYSE: NWS) -- has agreed to purchase iLike. The terms of the deal were not disclosed (although, the buzz is that the deal came to roughly $20 million).

Tech veterans (and brothers) Ali and Hadi Partovi started iLike back in 2006 (I actually had a chance to talk to them back then). The goal was to create a social music discovery site, leveraging emerging platforms like Facebook, Orkut, hi5 and Bebo. In fact, iLike was able to attract more than 50 million registered users.

While impressive, there were some problems. First, a big chunk of the traffic came from Facebook. So, the concern has always been: what if Facebook wants to compete in the space?

Continue reading MySpace buys iLike

MySpace buys iLike originally appeared on BloggingStocks on Wed, 19 Aug 2009 18:00:00 EST. Please see our terms for use of feeds.

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