WOW: CBS Acquires Last.fm for $280 Million

I did not expect this one: despite ongoing rumors that Viacom would snap up the music site for a massive $450 million, CBS will announce today the acquisition of Last.fm for $280 million, according to an unverified source. The aim is to attract young people to the CBS brand.—WOW: CBS Acquires Last.fm for $280 Million

2 Comments

hugh May 30, 2007

the delicious and flickr guys must be kicking themselves for selling out for a few tens of millions! ;) shudda held out for the big bucks.

Patrick May 30, 2007

Couple of things on that. First, we (or at least I) don’t know the details of the vc money invested. I think Flickr had grant money and angel funding while last.fm had one or two rounds of financing so I’m not sure how much more the founders made this time around.

Second, if memory serves, Flickr sold when they were at 300 000 users while last.fm are at 15 million active users, calculating by that metric, which is often the way those things are done, last.fm got less than twice as much as Flickr, factor in the first item and it might be interesting to see who made the most money. (I’m assuming the 30mill selling price I have in mind is correct but I might be wrong).

Compare the 18million users of Facebook with the supposed more than one billion offer they turned down though and _that’s_ a big difference ;)

Comments closed