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Blog Entry
Last.fm Acquired by CBS
Published on the 30th of May 2007
Today, the CBS Corporation (a US company) purchased Last.fm (external link) (a British Web 2.0 company) for $280 million. For those who do not know, Last.fm is a music community that tracks what music you play and organises it into pretty graphs and charts. Then it suggests new music to you, introduces you to people with similar musical taste, and much more.
Last.fm is certainly my favourite Web 2.0 website. At first I was terrified of the idea of CBS having control of it, but after reading the blog entry at Last.fm (external link), I was relieved to read that the current team will remain in control of the business. In the end, it should help them to get more licensing deals and to have good access to monetary funds.
Still, I am always a bit scared of acquisitions...
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