Owen Van Natta

MySpace acquires iLike

After days of chatter, MySpace made its acquisition of social music discovery startup iLike official today. The company, which is best known for its popular Facebook music app, will see its social discovery technology applied in new areas such as gaming, according to MySpace CEO Owen van Natta. To that end, iLike was acquired by MySpace Inc., not MySpace’s digital music joint venture.

According to the acquisition announcement, the current iLike experience that users have come to love will be “unaffected by
the acquisition
” and iLike will continue to be headquarted in Seattle.

MySpace’s lays off 30%, are its better days behind it?

Friendster provided the quintessential story of a hot company that rose quickly and fell even quicker. At one point, Friendster seemed set to dominate the social networking market.

Then two upstarts, MySpace and Facebook, left it battered and bruised. While the company still exists, the chances that it will ever recapture its past glory seem, to some observers, slim to none.