MySpace Acquires imeem for Undisclosed Sum

  • Feed Type
  • Date
    11/18/2009
  • Company Name
    imeem
  • Mailing Address
    285 Hamilton Ave Palo Alto, CA 94301
  • Company Description
    imeem is an online community where artists, fans & friends can promote their
    content, share their tastes, and discover new blogs, photos, music and video.
  • Website
    http://www.imeem.com
  • Transaction Type
    M&A
  • Transaction Amount
    Undisclosed
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    The News Corp.-owned MySpace has agreed to pay $1 million in cash, but the total figure also includes money for accounts receivable and employee earn outs. Regardless, the price is a big loss for investors who poured upwards of $30 million into the pioneer ad-supported music service.

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