Why is iLike selling out to MySpace for $20 million?

[cwan]

http://www.techflash.com/Reports_Why_is_iLike_selling_out_to_MySpace_for_20_million__53576657.html

[GavinB]

I'm guessing it was the $20 million.

[javery]

Nowhere in the article does it mention if iLike was you know... making any money. Seems like if it was losing tons of money it might make the sale and price more understandable.

[colinplamondon → javery]

Yeah, this is just the normal flow of things- all the ra ra new economy types will die off because they were operating as charities, not businesses.

[mattmaroon → javery]

Right, and then they say its a deathknell for consumer web companies, as if none of us have a business model.