CBS buys Last.fm
I’m a last.fm subscriber and have been for quite some time. Many of my friends are there, but I don’t interact much with last.fm. I primarily just listen to music in my local iTunes Library and check out my charts on Last.fm. I wish last.fm was more feature rich, including on-the-fly updates of the Weekly Top Artists list. I am dubious as to whether AudioScrobbler/last.fm is worth $280 million.
I’m starting to get flashbacks of 2000. And I’m worried about 2008. Are we in for another implosion, like we had at the end of the dot.com bubble? The difference this time around is that IPO doesn’t seem to be a business model, but neither is profitability.
- Start social networking site.
- Raise venture capital money.
- Garner large user base.
- Get purchased by big player (Google, Yahoo, Microsoft)
Time to get busy upgrading my skills, just in case.