CBS Acquires Last.fm for $280 million

“The quickly growing music social network Last.fm has been acquired by CBS for $280 million in an all-cash deal.UK based Last.fm launched five years ago and has become a social networking favorite with 15 million active users. It has become a massive repository for music information (artist and song wikis, listening data from users, etc.). In the U.S., companies like Pandora, MOG and iLike all compete with some of Last.fm’s features, although none of those startups has built the basic social network/community of last.fm.

The deal sees Last.fm’s management team staying in place and the site maintaining a separate identity.”

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