CBS Corporation has acquired Last.fm, a global, community-based, music discovery network. CBS purchased the property for $280 million in cash. Last.fm currently has more than 15 million active users in more than 200 countries. As part of the acquisition, the Last.fm team, including founders Felix Miller, Martin Stiksel, and Richard Jones, will continue to independently run the online network. The Last.fm management team will work with all relevant CBS divisions to apply their community-building and technology expertise to extend CBS businesses online and within the mobile space.
Founded in 2002, Last.fm creates communities around music by bringing together listeners, artists and music. Through its "scrobbling" technology and social recommendation engine, Last.fm builds a profile of each user’s musical taste and leverages each user’s song list to make personalized recommendations, connect users who share similar tastes, provide custom radio streams, and other music related community features.