Report: Is iLike about to part ways with Ticketmaster? |
Register here for our next TechFlash Live networking event, March 23, featuring an expert panel discussing the future of online advertising.
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
Technology Tax Planning – Did You Take The Deduction?
Technology companies require professional advisors who can assist in all aspects of the business. The BDO Technology Practice provides a full range of services tailored to help address the changing needs of domestic and international companies. In addition to core audit and tax services, BDO professionals can assist technology companies with:
· Revenue recognition
· Business combination accounting
· R&D tax credits
· Compensation and benefits
· Business valuations
Backed by 38 national offices and an international network in 110 countries, we have the domestic and global footprint to serve growing technology companies. Contact sphilpott@bdo.com (audit partner), mreeves@bdo.com (audit partner), psmith@bdo.com (tax partner), tzambito@bdovaluation.us.com (valuation), tfiscus@bdo.com, Director, 206.624.2020
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.
Job Listings
- Principal Program Manager - Health Solutions Group - 711442
- Microsoft Corporation
- Software Development Engineer, Senior - SQL - External - 708993
- Microsoft Corporation
- Senior Staff Engineer - Printer & Scanner
- Intellectual Ventures
- Account Executive- Hospital - WA/OR
- RF Technologies
- Installer / Technician
- Northstar Broadband
