Last.fm bought by CBS for $280m

A incredible bargain, in my opinion.

Social music site Last.fm has been bought by US media giant CBS Corporation for $280m (£140m), the largest-ever UK Web 2.0 acquisition. The online network was founded in the UK five years ago and it now has more than 15 million active users. - BBC

That's 2 acquisitions and some other significant moves for CBS in the past few weeks. They just scooped up Wallstrip for $5million and invested in Joost.

Links: Stacy Kramer (paidContent), Pete Cashmore (Mashable), BBC, Joseph Menn (LA Times) and Richard Jones (Last.fm's official blog). 

Technorati Tags: social.media, acquisitions, vc, cbs, last.fm, music

Wednesday, May 30, 2007

Comments:

why the f... didn't we put gmw.net money into that? would have been a better investement...
# posted by

Anonymous : 8:06 PM, June 01, 2007

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