MySpace Looking to Buy Imeem

by Jordan Yerman | November 17, 2009 at 11:44 am

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MySpace, that Diplodocus of social media sites, is in talks to buy Imeem, which currently supplies streaming and sharing technology to MySpace. News Corp, who owns MySpace, is looking for a way to get MySpace back on top of the social-media league standings, after it has been losing ground to Facebook, as well as to other music-based social media sites such as last.fm and The Hype Machine. MySpace previously acquired iLike.

It looks like MySpace is trying to re-embrace its musical roots, having begun its life cycle as a platform for up-and-coming indie musicians.

Imeem, a San Francisco-based start-up founded in 2003, lets users stream music, create playlists and share them with friends via email, blogs and profiles on social-networking sites — like MySpace.

While still enjoying healthy traffic (64 million unique visitors in October), MySpace's traffic is in steady decline.

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