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MySpace Close To Buying iLike For $20 Million

MySpace is close to buying iLike for $20 million according to TechCrunch.

Quick analysis:

  • iLike is second only to MySpace in hosting pages for artists. Combining their assets would strongly solidify MySpace's position in music.
  • How will Facebook react ? iLike is the dominate music discovery app on Facebook offering users a music option without the social networker having to create their own. But now its top music app will be controlled by chief rival MySpace. Could Facebook finally be forced to forge its music strategy?
  • What music startups are ripe for acquisition by either social networker? imeem? ReverbNation?