Online Music Community iLike Grabs Ticketmaster Investment

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The music industry is continuously evolving, and Ticketmaster is one of the leading companies driving that change. With a $13.3 million investment in iLike, Ticketmaster has gained a 25 percent controlling stake in the music discovery community. The infusion of capital will give Ticketmaster considerable strategic involvement in iLike. In return, iLike will benefit from the vast network of Ticketmaster, which is part of the Barry Diller-controlled IAC/InterActiveCorp.

iLike is a music destination headquartered in Seattle, created by entrepreneur Ali Partovi. The company’s focus is on consumers and music discovery, which sets it apart from GarageBand, the distressed company that Partovi bought to create iLike. GarageBand catered mainly to musicians, while iLike is geared towards music lovers seeking new artists and songs. With the partnership, Ticketmaster aims to generate greater awareness of events and increase ticketing purchases.

iLike’s approach is unique. The company blends social networking and music to create a potent combination. Social networking and music are powerful concepts, and a large percentage of internet users are attracted to both. The market is already crowded with recommendation solutions and technologies, including Pandora, MusicIP, MusicStrands, and Last.fm. The music-focused social networking market is also stirring, with early entrants such as MOG and Goombah. MySpace continues to spin music-related initiatives. iLike plugs into iTunes collections, allowing users to share their tastes, browse the collections of others, and receive recommendations.

The infusion of capital from Ticketmaster is significant for iLike. The company will be able to use the capital to develop its platform further. With Ticketmaster’s strategic involvement, iLike can tap into new audiences and offer more features. Ticketmaster’s vast network will help iLike to reach a broader audience, and the partnership will enable the two companies to collaborate on projects that will benefit both.

Ticketmaster has been at the forefront of the music industry for decades. The company has a vast network of partners, including venues and artists. Ticketmaster’s involvement in iLike will allow the music discovery community to tap into this network, which will benefit both companies. iLike will be able to offer more events to its users, while Ticketmaster will be able to generate more ticket sales.

The music industry is continuously evolving, and it’s essential to stay ahead of the curve. Ticketmaster has recognized this and has invested in iLike to stay ahead of the competition. With the partnership, Ticketmaster will be able to offer its users more features and events, while iLike will be able to tap into Ticketmaster’s vast network of partners. It’s a win-win situation for both companies.

In conclusion, the infusion of capital from Ticketmaster is a significant development for iLike. The music discovery community will be able to use the capital to develop its platform further and offer more features to its users. Ticketmaster’s strategic involvement will allow iLike to tap into new audiences and offer more events. The partnership between the two companies will benefit both and will help them stay ahead of the competition. The music industry is continuously evolving, and Ticketmaster’s investment in iLike shows that the company is committed to staying ahead of the curve.