Last.fm Sold for £140m

May 31st, 2007 • Related • Filed Under

Last.fm was sold yesterday for £140m to CBS Corporation, making it the largest-ever UK Web 2.0 acquisition.  Great news for the company, as Last.fm had definitely reached the point where it needed an owner with deeper pockets to fund its continued expansion.

Nevertheless, it had still managed to achieve an active userbase of 15m users in 5 years without spending a penny.  I’m one ofthe 15m, and I tend to use the Last.fm service a couple of times a week.  My introduction to Last.fm came via my Xbox running XBMC. The Xbox has a built-in client that automatically sends details of the tracks I play to Last.fm.  This then allows me to stream music from similar artists and genres for free on my Xbox. The audio quality is amazing, much better than services like Launchcast, but the feature I like the most is that there are no limits on how many times you can skip tracks.

The three founders of Last.fm will surely be having a night week out on the town to celebrate their new-found fortune. I don’t begrudge them their money, but don’t you find it a bit sickening reading continually reading  about new multi-millionaires and fortunes being created? There seems to be so much money sloshing around at the moment for net companies.  Maybe, I should put a big for sale sign on this site. It’s got to be worth a million or two by now.

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About the Author

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Everton is based in London and has worked in the internet and mobile space for over ten years now, and before that worked in corporate strategy and consulting. He has a degree in Economics from Cambridge University, and currently runs the Portal and online operations for one of the largest ISPs in the UK. He also writes for Windows 7 News.

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  1. #1

    Comment by Dennis Bjørn Petersen on 31 May 2007:

    Now if only they could get the sproggler to work on Windows Vista. They need to upgrade the last.fm-client.

    It is a great service nevertheless.

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