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Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

August 17, 2009 at 8:50 AM

TechCrunch: MySpace buying iLike for $20 million; Swisher says $21.5

MySpace is close to buying Seattle social music startup iLike for “around $20 million” anonymous sources told TechCrunch.

It said the deal should close by the end of the week. Rumors of iLike being up for sale have been circulating for months.

MySpace and iLike have become serious competitors, especially since MySpace overhauled its music service last year, with each offering recording artists extensive tools to build their online presence and stay in touch with fans.

Update: Kara Swisher has more details, saying the offer is $13.5 million upfront – including $8 million to pay off lead investor Ticketmaster – and $8 million if Hadi Partovi and Ali Partovi stay with MySpace for a few years.

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