UPDATE: Why iLike Sold To MySpace For So Little

BEVERLY HILLS, CA (Hypebot) –
"The recent distressed exit of iLike reminds us of the need to build real value in our startups if we hope to create lasting companies and wealth…

If we look over the past fifteen years of webtime, we see a few categories emerge where real value was created:

Efficiency/Cost Reduction (DoubleClick, RedHat, PayPal, Craigslist)

Monetizeable audience (Yahoo!, Google, AOL)

Repeat customer commerce (Amazon, eBay, Netflix)

Solve a pain point (Checkpoint, Postini)

Create new markets (EA, Google)

…I think we have returned to a time where eyeballs don’t necessarily equate to value, and rightfully so."

– David Pakman, partner in venture capital firm Venrock and former CEO of eMusic. More at Silicon Alley Insider.