MySpace on Tuesday announced the acquisition of certain assets to purchase of online music services, Imeem, mark of the second continuation of acquisition by social networks, to the platform of completed their music menu.The deal is valued at less than $ 1 million, to a person familiar with the deal.
Imeem, on the basis of San Francisco, which was founded in 2003, users to stream music, create playlists and share them with friends via email, blogs, and profiles on social networking sites like MySpace. Imeem has more than 25 million dollars raised. With a significant portion of their revenue through advertising, but also sells ringtones, download music and concert.
Four Imeem Manager will act as consultants to the MySpace Help in the transition. The terms and conditions of their contracts are still running and still is to determine how many employees will be hired by MySpace Imeem to that person.
MySpace is trying to distinguish themselves from longtime rival Facebook by remaking itself to the target location for people to connect with friends via the entertainment content. To this end, MySpace cut the workers, installing new management and ramped up its technology initiatives for the creation of new products that enable users to share of such content.
The company also launched a loaded with new products, music in the last few months. Purchase of Imeem after MySpace recently closed purchase get iLike music service that allows users to share music social network sites.