Report: Is iLike about to part ways with Ticketmaster? |
Follow the ups and downs of a new Seattle startup in a series of behind-the-scenes posts by its founders.
Report: Is iLike about to part ways with Ticketmaster?
For the second time this week, iLike has found itself in the middle of some interesting speculation. The latest comes via TechCrunch, which cites anonymous sources who say the profitable online music startup is raising a new round of cash that would essentialy wipe out the ownership position of major investor Ticketmaster.
TechCrunch reports that the founding team of iLike, along with a new investor, are negotiating to buy some or all of the Ticketmaster shares.
What's interesting about the chatter is that it comes a day after CNET reported -- also citing unnamed sources -- that iLike was in talks to establish a new online music download store in partnership with three or more music studios.
Could the two reports be connected? I haven't heard anything back from the company.
But here's one scenario. Perhaps a large music studio or two are maneuvering to set up a venture with iLike and they want Ticketmaster out of the way.
iLike -- with more than 50 million registered users -- raised $13.3 million from Ticketmaster in 2006. At the time of the funding, The Wall Street Journal reported that Ticketmaster would own 25 percent of the company.
Prior to that round, iLike had raised $2.5 million from Bob Pittman, Vinod Khosla and others.
John Cook is co-founder of TechFlash. Follow him on Twitter @johnhcook.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
READ FULL BIOGRAPHYRecent Sponsor Posts
Seattle Repertory Theatre presents Glengarry Glen Ross Feb 5th to Feb 28th
One of the largest and most renowned regional theatres in the country, Seattle Repertory Theatre produces a mix of celebrated classics, recent Broadway hits and cutting-edge new works in two theatre spaces. Now playing David Mamet's American classic Glengarry Glen Ross through February 28. Join us for Sales Rep Industry night February 11 with the Puget Sound Business Journal. For details click here.
Join the Microsoft WebsiteSpark program and get software, support and visibility – at no upfront cost. You’ll benefit from fast and easy access to current Microsoft development tools, platform technology and server products including Visual Studio, Expression Studio, Silverlight, Windows Web Server 2008 and SQL Server 2008 Web.
Seattle-based Adhost is a WebsiteSpark hosting partner providing dedicated servers with free Windows Web Server 2008 and SQL Server 2008 licensing for three years to Web developers enrolled in WebsiteSpark. Servers are located in our secure data center with SAS 70 Type II certification, 24x7 technical support and 24x7 client access.
WTIA 15th Annual Industry Achievement Awards
Held on March 4th at the Showbox SODO, this casual event celebrates and recognizes some of the best emerging and established companies in the Washington Tech Industry. The evening will feature a finalist company technology showcase and a variety of coffee, chocolate, and wine samples from local companies. More than 800 attendees are expected to be present at the celebration. Public online voting for Technology Leader of Tomorrow Scholarships will open February 3rd on the WTIA site.
We congratulate the 2010 finalists and look forward to unveiling the winners on March 4th. REGISTER NOW!
From the trenches
Job Listings
- Registered Health Information Technician (Forms & Records Analyst 2)
- State of Washington Department of Corrections
- Principal SDE - Project Natal - Gameplay Engineering - 711621
- Microsoft Corporation
- Senior Web Analyst - 705536
- Microsoft Corporation
- Telecommunications Consultant (I)
- Sparling Electrical & Technology Consulting
- Senior SDET - 706910
- Microsoft Corporation
