iLike -- the company behind the most popular application on Facebook -- is set to be acquired by the 'book's largest rival, MySpace, in a deal rumoured to be worth $20m
It's not confirmed yet, but one high-level music industry source says iLike may bring downloads to Facebook via its app as soon as this week.
CEO Owen Van Natta said in a conference call that the News Corp.-owned social network has agreed to purchase the social music site, following rumors.
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Sources say iLike's dependence on Facebook is partially to blame for music service's small valuation. Is this a warning for third-party platform developers?
Though iLike rose to fame thanks to an app on Facebook, TechCrunch reports that the music service is about to be sold to one-time rival MySpace.
Famous for its popular Facebook app, iLike is making a foray into music downloads and will offer tunes from all four big record companies.
The music service has supported itself mostly through ad sales but will try its hand at selling music downloads.
The concert app scans your iPhone's library to find what artists you listen to and lets you know when they're in town. No word on a rumored music store, though.
The Facebook mainstay wants to stop sending 50 million users to other sites to buy music, sources said, and is close to striking deals with three top labels.