Myspace, the social networking giant acquired imeem today for an undisclosed amount. The deal being worked out in the past few weeks was finally sealed with Myspace agreeing to pay 1million USD in cash. Though the exact amount of the deal is undisclosed, it is believed that Myspace will pay $9million to employees, thus totalling to $10million. Imeem is the 4th ad-supported online music service which has been sold for peanuts, considering the $30million raised in funding from investors. It's obvious that the Imeem assets would be merged with Myspace Music, which was launched in September 2008.
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