Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston
, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here
iLike.com, the iPod-compatible social networking and music discovery company we raved about previously has raised $13.3 million in financing from Ticketmaster.
Ticketmaster will own a 25 percent stake in the company.
This makes a lot of sense for both sides. iLike needs cash to expand, and Ticketmaster is more than an investor. Ticketmaster will provide iLike users information about events where their favorite bands are playing, and then sell them tickets. Presumably, this is good for users, though to be honest, we’re always irked when Ticketmaster is the only way a venue offers tickets, because the fees are inevitably high.
Ticketmaster is owned by IAC/InterActiveCorp, which has been upgrading its efforts to merge its various properties at Ask City with local maps, events and reviews .
Ticketmaster’s investment includes an agreement to let engage iLike consumers “with deeply-integrated music and event discovery services intended to drive ticket sales,” according to the company’s announcement, to be released tomorrow.
Previous investors in iLike include Khosla Ventures and Bob Pittman.
VentureBeat’s VB Insight team is studying marketing analytics...
Chime in here, and we’ll share the results